Elexon will separate from National Grid ESO ownership on 1st October 2024 and operate under a new federated ownership model.
Elexon runs the Balancing and Settlement Code (BSC), which helps manage the UK’s energy system.
The BSC sets the rules for trading electricity and ensuring a stable supply.
The 13 largest energy companies, each with over 2% of Elexon’s funding share, will now take ownership stakes, though Elexon will continue to operate with an independent board.
Elexon has stated that it will continue to function as an independent and impartial entity, supporting the energy sector’s transition to net zero while providing value for money.
On Friday, Energy Live News reported that National Grid agreed to sell its Electricity System Operator (ESO) to the UK Government for £630 million.
This transfer will see the establishment of the National Energy System Operator (NESO), a new public body set to begin operations on 1st October.
The NESO will oversee the planning and operation of the UK’s electricity and gas systems, integrating both sectors to help meet clean energy targets.
