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National Grid plc history
National Grid plc company history timeline
In 1942, the Securities and Exchange Commission (SEC) ordered NEPA to simplify its corporate structure.
In 1967, the three major electric utilities in New England--NEES, Boston Edison Company, and Northeast Utilities--began merger talks; Northeast Utilities later withdrew from these negotiations and was replaced by Eastern Utilities Associates.
British Gas Corporation – In response to the changes, the 1972 Gas Act implemented a restructuring of the UK gas industry with the 12 AGBs being merged into one single entity the British Gas Corporation.
In 1974, NEES announced plans to build a nuclear power station in Charlestown, Rhode Island.
Late in 1979, NEES canceled plans for the Charlestown plant.
1979: The company begins to reduce its dependence on foreign oil; conversion from oil-fired generation plants to coal burning plants begins.
To ensure coal supplies for its plants, NEES contracted for the construction of its own coal-carrying ship in 1980.
In 1983, NEES announced that it wanted to sell its ten percent interest in Seabrook 2 but to retain its interest in Seabrook 1, then 70 percent complete.
In 1983, NEPOOL had made an agreement with Hydro-Quebec, the electric utility owned by the province of Quebec, to purchase sufficient surplus power generated by hydroelectric stations in the James Bay region to meet 3 percent to 4 percent of the region's energy needs.
In 1985, Samuel Huntington, who had succeeded Guy Nichols as chief executive officer, announced further measures to provide an adequate supply of electricity at the lowest possible cost and to encourage customers to use electricity efficiently and economically.
The Seabrook 1 nuclear plant was completed in late 1986, but the Chernobyl accident in April of that year led the Nuclear Regulatory Commission to refuse to license the plant for commercial operation until emergency response measures were in place.
British Gas Plc – In 1986, the assets of the regionalised gas companies including the British Gas supply business were transferred from the state owned British Gas Corporation into what became known as British Gas plc.
In July 1988, CEO Samuel Huntington was killed during a lightning storm.
PSNH filed for bankruptcy in 1988 after the courts barred it from passing along the Seabrook 2 costs to its customers.
In addition, in 1988 it formed the Narragansett Energy Resources Company to take a 20 percent interest in Ocean State Power, a general partnership established to build, own, and operate a gas-fired electric power plant in Burrillville, Rhode Island.
1989: NEES Energy gains SEC approval to expand its business and to participate in cogeneration projects.
The business was endowed with 48% of the overall UK generation capacity.The birth of nPower (RWE) – Also as part of the 1989 separation of the CEGB, the 100% state owned National Power business was established holding 52% of the UK’s generation capacity.
British Gas plc reorganises – In 1990, British Gas plc was restructured into three core groupings:The Gas Business in Great BritainExploration and ProductionGlobal Gas
National Grid changes hands – In 1990 as part of the break up of the CEGB, the operations and assets of the National Grid were then distributed to each of the RECs prior to their privatisation.
Scottish Nuclear – And in 1990 the South of Scotland Electricity Board vested its nuclear generation interests into a newly formed entity, Scottish Nuclear.
The age of privatisation – In 1991 60% of PowerGen plc and National Power plc was sold off to private investors.
Nuclear Electric – Also in 1991 in the final act of the break up of the CEGB, a new company was formed, Nuclear Electric, which acquired the CEGB’s nuclear generation assets.
The birth of Scottish Power – In 1991 the remainder of the assets of the South of Scotland Electricity Board and the North of Scotland Electricity plc were privatised becoming respectively:Scottish Power plc andScottish Hydro-Electric plc
Dealings in National Grid shares start on 11 December 1995, following the company’s listing on the London Stock Exchange.
In 1995 – MANWEB plc was acquired by Scottish Power.
1996 – In 1996 US business Entergy acquired London Electricity plc.
1997 – In 1997 American Electric Power (AEP) acquired Yorkshire Electricity Group plc. and the Eastern Electricity plc was demerged from Hanson plc and became The Energy Group plc.
In 1997, the company sold its 15 hydroelectric and three fossil fuel plants to United States Generating Company, a subsidiary of PG&E Co., for $1.6 billion.
Indeed, deregulation became a reality with the passing of the Rhode Island Utility Restructuring Act in January 1998, which was the first act in the United States that enabled customers to choose their power supplier.
1998: NEES sells its non-nuclear generation business to focus on distribution.
The assets of Magnox Electric were merged with those of British Nuclear Fuels (BNFL)1999 – In 1999 Western Power Distribution, the US based utilities business, acquired SWEB Energy plc and its parent business Southern Company.
National Grid was founded on July 11, 2000 and is headquartered in London, the United Kingdom.“
In 2000 the nPower business underwent a restructure, demerging into:Innogy, focusing on the UK based business, andInternational Power focused on generation and overseas opportunities.
In 2000 BG Plc underwent a further demerger separating into:BG Group Plc (the international elements of the gas business) andLattice Group Plc.
The $4.1 billion union was completed in 2000.
2000: National Grid Group plc acquires NEES; the company adopts the name National Grid USA.
Also in 2001 the Norweb DNO business was rebranded to United Utilities Electricity.
During 2001, the United States concern accounted for 60 percent of National Grid's revenues and 43 percent of its profits.
That purchase, completed in January 2002, doubled the size of National's Grid United States business and catapulted National Grid USA into the top echelon of United States power distributors, securing it as the ninth-largest in the nation.
During 2002, its parent merged with Lattice Group plc to form National Grid Transco plc.
2003 – In 2003 EDF Energy acquired the SWEB supply business from WPD.
2004 – In 2004 E.ON acquired the DNO business of Midlands Electricity plc merging it with their East Midlands Electricity plc business and rebranding them as Central Networks.
2005 – In 2005 SSE established Scotia Gas Networks to take advantage of opportunities in the Gas distribution market.
Also in 2005 National Grid Transco plc changed its name to National Grid plc.
BNFL commenced its closure with all existing sites transferred to the Nuclear Decommissioning Authority for disposal.2007 – In 2007 United Utilities Electricity was sold to North West Electricity Networks rebranding as Electricity North West Limited.
2010 – In 2010 the EDF Energy DNO assets of London Electricity, SEEBOARD and Eastern Electricity were sold to new company UK Power Networks.
2011 – In 2011 WPD acquired the Central Networks DNO from E.ON. In 2011 CE Electric UK was rebranded as Northern Powergrid.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| SoCalGas | 1867 | $3.8B | 8,178 | - |
| Florida Power & Light | 1925 | $24.8B | 8,700 | 1 |
| Pepco Holdings | 1896 | $23.0B | 1,429 | - |
| NYISO | 1997 | $400.0M | 563 | - |
| OGE Energy | 1902 | $3.7B | 2,292 | 13 |
| San Diego Gas & Electric | 1881 | $3.4B | 4,396 | - |
| PECO Energy | 1881 | $2.0B | 2,798 | - |
| OUC | 1923 | $106.8M | 3,000 | 23 |
| Georgia Power | 1945 | $23.0B | 8,310 | - |
| Fidelity Services Group | 1957 | $90.0M | 10,001 | 2 |
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Zippia gives an in-depth look into the details of National Grid plc, including salaries, political affiliations, employee data, and more, in order to inform job seekers about National Grid plc. The employee data is based on information from people who have self-reported their past or current employments at National Grid plc. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by National Grid plc. The data presented on this page does not represent the view of National Grid plc and its employees or that of Zippia.
National Grid plc may also be known as or be related to National Grid USA, National Grid USA Service Company Inc, National Grid USA Service Company Inc., National Grid USA Service Company, Inc., National Grid USA, Inc. and National Grid plc.