# UK’s National Grid to sell electricity system operator in $827 million deal
Published: 2024-09-13
Category: Finance
Category URL: https://internationalreleases.com/category/finance/
Meta Title: National Grid sells ESO to UK gov for $827.95M
Meta Description: National Grid agrees to sell ESO for 630 million pounds to UK govt to establish NESO for energy network oversight and transition to clean, homegrown power.
URL: https://internationalreleases.com/uks-national-grid-to-sell-electricity-system-operator-in-827-million-deal/

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(Reuters) -Britain’s [National](https://internationalreleases.com/new-zealands-national-party-looks-to-cement-lead-30-days-out-from-election/) Grid said on Friday it had agreed to sell its Electricity System Operator (ESO) to the UK government for 630 million pounds ($827.95 million), including debt.

The energy infrastructure [operator](https://internationalreleases.com/bourse-operator-asx-takes-action-for-trading-softwares-operational-reliability/) said it expected to complete the deal by Oct. 1, when the Labour government and energy regulator Ofgem aim to establish an independent National Energy System Operator (NESO).

The NESO will be a publicly-owned, independent body, with new roles across electricity and gas to oversee the [national](https://internationalreleases.com/new-zealands-national-party-looks-to-cement-lead-30-days-out-from-election/) energy network.

“We need to move Britain off expensive, insecure fossil fuel markets, and onto clean, cheap homegrown power that we control. This is how we reduce bills in the long term, strengthen our [energy](https://internationalreleases.com/the-rise-of-renewable-energy-a-global-perspective/) independence and support skilled jobs across the country,” Energy Secretary Ed Miliband said in a statement.

($1 = 0.7609 pounds)

(Reporting by Yamini Kalia and Shanima A in Bengaluru; Editing by Rashmi Aich)


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