NATIONAL GRID PLC

(Redirected from National Grid Transco)


'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. The London Stock Exchange ticker is 'NG.'

Contents

Organisation

History

Timeline

See also

External links

References

Organisation

★ Australia

★
★ National Grid Australia
Owns and operates the Basslink high-voltage direct current transmission link between the Australian mainland and Tasmania - As of July 2007 this has been sold for £485m to CitySpring Infrastructure Management Pte Ltd.^[1]

★ UK

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★ 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).

★ USA

★
★ National Grid USA
Gas and electricity distribution and electricity transmission in New York, Massachusetts, New Hampshire, Vermont and Rhode Island, in the north-eastern United States. National Grid USA carries out its business through a number of subsidiary companies, the main ones being:

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★
★ New England Power Company;

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★
★ Massachusetts Electric Company;

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★ The Narrangensett Electric Company;

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★ Granite State Electric Company;

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★ Niagara Mohawk Power Corporation;

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★ KeySpan (as from 24 August 2007).

History

In 1990, the transmission 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 acquisition was completed on August 24, 2007 following government and regulatory approval and endorsement by the shareholders of the two companies. [1]

Timeline

★ 1990 - CEGB's activities split; its transmission 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 and Centrica following a demerger.

★ 1999 - BG plc becomes BG Group plc and creates two new subsidiaries BG Group and Lattice Group (which includes Transco, the gas transportation business)

★ 2000 - National Grid acquires New England Electric System and Eastern Utilities Associates

★ 2002 (January) - National Grid acquires Niagara Mohawk Holdings, Inc, a New York State utility

★ 2002 (October) - Lattice Group merges with National Grid Group to create 'National Grid Transco plc'

★ 2005 - National Grid Transco renamed 'National Grid plc'

★ 2007 - National Grid plc completes takeover of KeySpan of the USA.

See also

★ National Grid UK

★ European Transmission System Operators

★ Energy policy of the United Kingdom

★ Energy use and conservation in the United Kingdom

★ Scotia Gas Networks

External links

★ Corporate site

★ UK site

★ Yahoo profile

★ National Grid plc stock chart

References

1. http://www.nationalgrid.com.au/home/fileadmin/templates/uploadedFiles/Sale_Announcement_Release_FINAL_webversion.pdf