Coronavirus Update

U.K. Energy Regulator Recommends Splitting of National Grid

This content has been sourced from: https://blinks.bloomberg.com/news/stories/QNHAE5DW...

Ofgem recommends creating a new body to lead
the transformation needed to get to net zero and to manage the
nation’s electricity system, according to statement.


* Ofgem says that a new body should take over responsibilities
from National Grid in the Electricity System Operator role
** National Grid will continue to own and operate gas and
electricity transmission system
* The body would be fully separated from National Grid and run
the electricity system, helping to charge millions of electric
vehicles and enabling a huge increase in renewable power while
maintaining secure energy supplies: Ofgem
* Separating the role could save consumers as much as GBP4.8b
between 2022 and 2050
* NOTE: the ESO was made into a legally separate entity in 2019
to create greater independence