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National Grid sells majority stake in gas pipe network

As announced today the remaining gas distribution networks owned by National Grid (West Midlands, North West, London and East of England) have been purchased by a consortia lead by Australian asset managers Macquarie. This leaves National Grid as a transmission system operator (high pressure network) and electricity transmission operator with all local distribution areas for gas now owned by various companies.

As always, it remains to be seen whether this sale will bring about lower gas transportation charges but as the regulated 3rd party charges are now set for another 6 years the income levels are pretty much guaranteed. Any guess for which way they’ll go beyond the current price control period is unclear.

Source: http://www.bbc.co.uk/news/business-38248198

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