Main navigation

Daily news

National Grid may dip into German power grid

16 May 2008

National Grid may dip into the German power grid, as E.on considers selling its transmission assets, chief executive Steve Holliday on Thursday.

The German utility is offloading its grid as well as some 4,800MW of power-generating capacity to stop the proceedings of an EU commission anti-trust probe.

National Grid has hitherto focussed on its core markets in the US and the UK.

But Mr Holliday said the situation in Germany had changed ¿quite rapidly¿ from two years ago.

"If it [the transmission grid] were to open up we would be interested," he said, adding the caveat that the cost must not be prohibitive for the UK's biggest utility firm.

"It needs to be something that creates value for us," he said.

"We would be great stewards of the assets in Germany if we were able to acquire them at a price that makes sense."

German firms have bought two of the UK¿s major energy suppliers in the UK, Powergen and Npower.

National Grid¿s full year pre-tax profits for the 12 months to the end of March increased by 24 per cent to £1.8 billion.

Find out how the Energy Saving Trust can help you