National Grid plc
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National Grid plc is a United Kingdom based utilities company which also operates in other countries, principally in the United States. The company adopted its current name in July 2005 when shareholders agreed the change from National Grid Transco plc. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Organisation
- Australia
- *National Grid Australia
Owns and operates the Basslink high-voltage direct current transmission link between the Australian mainland and Tasmania. - UK
- *National Grid Electricity Transmission plc (formerly National Grid Company)
Owns and operates the National Grid high-voltage electricity transmission network in England and Wales. Since April 1, 2005 it also operates the electricity transmission network in Scotland (although this is still owned by Scottish Power and Scottish & Southern Energy). - *National Grid Gas plc (formerly Transco)
Gas transmission (from terminals to distributors) and distribution (from national network to customers). - *National Grid Wireless (formerly Crown Castle UK)
Telecommunications infrastructure and TV broadcast transmission. - US
- *National Grid
Transmission in north-eastern United States. The company also owns five electricity distribution companies.
History
In 1990 the tranmission activities of the Central Electricity Generating Board were transferred to the National Grid Company plc which was owned by the 12 Regional Electricity Companies (RECs) through a holding company, National Grid Group plc. In 1995 shares in this holding company were listed on the stock exchange. Within a year most of the RECs had disposed of their interests.In 2002 National Grid Group merged with Lattice Group plc, owner of Transco - the UK gas distribution business (Lattice demerged from BG Group in 2000). National Grid Group changed its name to National Grid Transco plc.
In 2005 National Grid Transco was renamed National Grid plc. On July 26, 2005 National Grid Company was renamed National Grid Electricity Transmission plc and on October 10, 2005 Transco was renamed National Grid Gas plc.
In February 2006 National Grid announced that it had agreed to buy KeySpan Corporation, a gas distributor in the United States, for $7.3bn (£4.1bn) in cash. The deal is subject to regulatory approval and endorsement by the shareholders of the two companies. [link]
Timeline
- 1990 - CEGB's activities split; its tranmission function going to the National Grid Company plc (NGC) owned by the 12 newly privatised Regional Electricity Companies.
- 1995 - National Grid Group plc (holding company of NGC) listed on London Stock Exchange.
- 1996 - By this time most of the RECs have disposed of their interests in the National Grid Group
- 1997 - British Gas plc becomes BG plc following the demerger of Centrica
- 1999 - BG plc becomes BG Group plc and creates two new subsidiaries BG Group and Lattice Group (which includes Transco, the gas transportation business)
- 2002 - Lattice Group merges with National Grid Group to create National Grid Transco plc
- 2005 - National Grid Transco renamed National Grid plc.
See also
External links
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