National Grid plc

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National Grid plc

Type	Public (LSE: NG)
Founded	1990
Headquarters	London, England, UK
Key people	Sir John Parker, Chairman Steve Holliday, Chief Executive Dave Yare, Gas Fitter
Industry	Utilities
Products	Electricity and Gas Transmission and Gas Distribution
Revenue	£8,695 million GBP (2007)
Operating income	£2,513 million, plus Dave's wages GBP (2007)
Net income	£1,396 million GBP (2007)
Employees	19,712 including Dave and Dazza (2007)
Website	www.nationalgrid.com

A National Grid van working in central England

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.

1 Organisation
2 History
- 2.1 Timeline
3 See also
4 External links
5 References

[edit] Organisation

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)
  Owns and operates the gas transmission network (from terminals to distributors) and four (North West of England, East of England (which is split into 2 areas - East Anglia & East Midlands), West Midlands and London) distribution networks (from national network to customers) .
USA
- National Grid USA
  Gas distribution and electricity production, distribution, and 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:
  - New England Power Company;
  - Massachusetts Electric Company;
  - The Narrangensett Electric Company;
  - Granite State Electric Company;
  - Niagara Mohawk Power Corporation;
  - The Brooklyn Union Gas Company;
  - KeySpan Gas East Corporation;
  - Boston Gas Company;
  - Colonial Gas Company; and
  - EnergyNorth Natural Gas, Inc.

[edit] 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 2004, National Grid Transco agreed to sell four of its regional gas distribution networks. The total cash consideration was £5.8 billion. NGT kept ownership of other four distribution networks, which comprise almost half of Great Britain's gas distribution network.

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 and electricity producer 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]

[edit] 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
2004 - National Grid Transco sells four of its regional gas distribution networks (UK)
2005 - National Grid Transco renamed National Grid plc
2006 - National Grid plc acquires the Rhode Island assets of New England Gas Company from Southern Union Company (US)
2007 - National Grid plc completes takeover of KeySpan of the USA.