National Grid Confirms £630m Sale of Electricity System Operator to UK Government
In a landmark deal, National Grid has agreed to sell its Electricity System Operator (ESO) to the UK Government for £630 million. This sale marks a pivotal step in the UK’s transition towards a greener, more sustainable energy future. The ESO, responsible for balancing supply and demand across the national electricity grid, will now be transformed into the National Energy System Operator (NESO), an independent public body tasked with overseeing both the UK’s electricity and gas networks. Expected to finalize by 1st October 2024, this move aims to enhance energy security, drive market development, and support the country’s goal of achieving net zero emissions.