National Grid has reached agreement with HM Government on the terms of the sale of National Grid's Electricity System Operator ('ESO') for an enterprise value of £630 million. The final cash consideration will be subject to customary closing adjustments (including for timing differences).
The Transaction is an important milestone for the creation of the independent National Energy System Operator ('NESO'). National Grid and HM Government expect to complete the Transaction on 1 October 2024 when HM Government, together with Ofgem, aim to establish NESO.
Source: National Grid
