Source data
National Grid system operator separation and transaction records
Sources checked
- April 2022Independent operator decision
Government and Ofgem agree to proceed Source 1
- October 2023Enabling legislation passed
Energy Act provides the framework for separation Source 2
- 13 September 2024Designation decision published
Electricity licence conversion and a new gas planning licence Source 3
- 13 September 2024Initial enterprise value announced
£630 million, subject to completion adjustments Source 4
- 1 October 2024Disposal completes and NESO starts
National Grid system operator moves into public ownership Source 2
- 2024/25 annual resultsTotal consideration and gain reported
£673 million consideration and £187 million disposal gain Source 2
Licence changes, completion and the accounting of proceeds were distinct events.
National Grid system operator separation and transaction records
Enterprise value, total consideration, cash proceeds net of cash disposed and disposal gain are different measures. The dates show where each was reported.
| Source | |||
|---|---|---|---|
| April 2022 | Independent operator decision | Government and Ofgem agree to proceed | Source 1 |
| October 2023 | Enabling legislation passed | Energy Act provides the framework for separation | Source 2 |
| 13 September 2024 | Designation decision published | Electricity licence conversion and a new gas planning licence | Source 3 |
| 13 September 2024 | Initial enterprise value announced | £630 million, subject to completion adjustments | Source 4 |
| 1 October 2024 | Disposal completes and NESO starts | National Grid system operator moves into public ownership | Source 2 |
| 2024/25 annual results | Total consideration and gain reported | £673 million consideration and £187 million disposal gain | Source 2 |