National Grid acquires £7.8bn Western Power Distribution: National Grid has reported the £7.8 billion take over of Britain’s biggest electricity distribution business, Western Power Distribution (WPD).

The purchase from PPL Corporation is predicted to permit the group to make a ‘strategic’ portfolio repositioning.

The company also said, in the second half of this year, it is forecast to launch the sale process for National Grid Gas (NGG).

National Grid has revealed ideas to sell its US Rhode Island utility firm to PPL for £2.7 billion.

Chief Executive of National Grid, John Pettigrew, announced: “These transactions will be transformational for our UK portfolio. The acquisition of WPD is a one-off opportunity to acquire a significant scale position in UK electricity distribution.

“As we move our portfolio to higher growth assets, we have taken the decision to sell a majority stake in NGG.

“Given the strategic nature of its business coupled with its central position in a transition towards a hydrogen economy, it will continue to play a vital role in the UK’s energy system.”

National Grid acquires £7.8bn Western Power Distribution

, , , , , , , , , , , , , , ,
Previous Post
Jet Zero to lower aviation emissions with £15m competition
Next Post
£2500 in UK grants to ease switch to cheaper EVs

Related Posts

Airbus reveals design for hydrogen fuel cell wing pods

Airbus reveals design for hydrogen fuel cell wing pods: Airbus has revealed a plan that may eventually allow large commercial aircraft to fly long stretches without producing CO2 emissions through the use of removable hydrogen fuel cell wing pods. The supposed named ‘pods’, that are attached underneath the aircraft wing, include propellers, motors & fuel…
Read More

2025 sees British Gas fleet go electric

2025 sees British Gas fleet go electric: British Gas is set to have all-electric commercial vehicles by 2025. The company has what is believed to be the third largest commercial vehicle fleet in the country and has committed to bringing forward changing to all electric in the next five years. All vehicles will be on…
Read More

Subscribe to our newsletter!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

British Utilities will use the information you provide on this form to be in touch with you and to provide updates and marketing.