Privatised by the Conservative government in the 1990s, National Grid is the owner of the UK’s electricity transmission network, along with local UK distribution networks and several utilities in the northeastern US.
Having sold Western Power Distribution in the UK in 2021 and Naragansett Power in the US in 2022, National Grid raised US$9.2 billion in 2024 through an equity issue to help fund its 5-year US$80 billion capital expenditure program in the US and UK. It subsequently sold its onshore renewable business in the US to Brookfield Asset Management for U$2.1 billion in 2025 and recently sold its Isle of Grain LNG Terminal business in the UK for £1.66 billion to Centrica and Energy Capital Partners.