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National Grid’s ‘transformational’ pivot to electricity targets net zero ambitions

National Grid’s ‘transformational’ pivot to electricity targets net zero ambitions

Business
National Grid is buying the UK's largest electricity distribution business for £7.8bn and plans to sell its gas transmission arm in a switch it says will enhance its role in delivering "net zero".The group has agreed to acquire Western Power Distribution (WPD) from America's PPL corporation in the latest transformation of the utility business responsible for keeping the UK's lights on. Buying WPD will give National Grid control over an electricity distribution network serving 7.9 million customers in the Midlands, the South West and Wales, with more than 6,500 staff. Image: National Grid chief executive John Pettigrew said the transactions would be transformational Meanwhile it plans to offload a majority stake in National Grid Gas (N...