New England Power Company
 |
|
| Public limited company | |
| Traded as | |
| Industry | Utilities |
| Founded | 1990 (London) |
| Headquarters | Warwick, United Kingdom |
|
Key people
|
Sir Peter Gershon (Chairman) John Pettigrew (Chief Executive) |
| Products | Electricity transmission Gas distribution and transmission |
| Revenue | £15,115 million (2016) |
| £4,085 million (2016) | |
| £2,594 million (2016) | |
|
Number of employees
|
25,068 (2017) |
| Website | www.nationalgrid.com |
National Grid plc is a British multinational electricity and gas utility company headquartered in Warwick, United Kingdom. Its principal activities are in the United Kingdom and North Eastern United States.
National Grid has a primary listing on the , and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £40.4 billion on 23 September 2016, the twentieth largest of any company, with a primary listing on the London Stock Exchange. It has a secondary listing on the .
Before 1990, both the generation and transmission activities in England and Wales were under the responsibility of Central Electricity Generating Board (CEGB). The present electricity market in the United Kingdom was built upon the breakup of the CEGB into four separate companies in the 1990s.
Its generation (or upstream) activities were transferred to three generating companies—PowerGen, National Power, and Nuclear Electric (later British Energy, eventually EDF Energy)—and its transmission (or downstream) activities to the National Grid Company.
In 1990, the transmission activities of the CEGB were transferred to the National Grid Company plc, which was owned by the twelve regional electricity companies (RECs) through a holding company, National Grid Group plc. The company was first listed on the in 1995.
With the beginning of the new millennium, National Grid pursued some major mergers and acquisitions. In 2000, National Grid Group acquired New England Electric System and Eastern Utilities Associates. In January 2002, National Grid Group acquired Niagara Mohawk Power Corporation, a New York State utility.
In October 2002, National Grid Group merged with Lattice Group plc, owner of Transco—the gas distribution business (Lattice demerged from BG Group in 2000).[9] National Grid Group changed its name to National Grid Transco plc.[10] In August 2004, National Grid Transco agreed to sell four of its regional gas distribution networks. The total cash consideration was £5.8 billion. NGT kept ownership of other four distribution networks, which comprise almost half of Great Britain's gas distribution network. In July 2005, National Grid Transco was renamed National Grid plc. On 26 July 2005, National Grid Company was renamed National Grid Electricity Transmission plc, and on 10 October 2005, Transco was renamed National Grid Gas plc.
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