National Grid to buy Western Power Distribution
National Grid is set to buy Western Power Distribution, which operates across the south west and Midlands, from US energy giant PPL Corporation.
National Grid is also expected to sell National Grid Gas by late 2022, in a move to offload the UK national gas transmission system.
John Pettigrew, Chief Executive of National Grid, said to Construction Enquirer: “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.
“WPD has a high quality, fast growing asset base and an excellent track record of customer satisfaction, operational performance and financial returns.
“Establishing National Grid as the leading electricity transmission and distribution operator in the UK will strengthen our long-term growth prospects, enhance our role in the UK’s energy transition and drive long term shareholder value.”