The Government has announced it has acquired the Electricity System Operator (ESO) from the National Grid, meaning that the UK’s energy system is set to be under public ownership from October.
Push for renewables
The move will see the National Energy System Operator (NESO) work with Great British Energy to increase renewable energy and help connect new electricity generation projects to the National Grid.
It should help the UK’s transition to clean energy by 2030 as it will provide secure, clean, homegrown power. And with many households already opting to invest in cleaner, greener energy, the whole sector should receive a boost. 43% of the UK’s power currently comes from renewable sources, with around 4.1% of it solar.
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Keeping the lights on
The new NESO comes under the Energy Act 2023, which has laid out how this new public body will maintain energy supplies. It will be led by former E.ON chair Dr Paul Golby, who has said NESO will support a more coordinated strategy in order to meet climate change challenges, as well as keeping bills low and ensuring energy supply security.
At present the two systems come under separate management, so the new arrangement should help ease strategic design and planning. As well as expanding renewable generation, it will also look at energy storage and emerging technologies including carbon capture and storage.
The £630m enterprise value agreed with the National Grid will recoup taxpayer costs through energy bill charges which currently go to the National Grid.
The new organisation, which is independent, will launch on October 1 and begin the transition to unify a national approach to delivering clean and decarbonised energy which is futureproof and affordable.
