National Grid Announces £630M ESO Sale

National Grid Transco (NGG) has released an update.

National Grid plc has announced the sale of its Electricity System Operator (ESO) to HM Government for an enterprise value of £630 million, an integral step towards establishing the independent National Energy System Operator (NESO), expected to be completed on October 1, 2024. This marks a significant milestone in the energy sector and reflects National Grid’s ongoing commitment to innovate and maintain efficient, reliable energy supply while driving the energy transition. The deal’s final cash consideration will be adjusted based on customary closing conditions.

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