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Vattenfall establishes new electricity network business in UK

CTBR Staff Writer Published 03 November 2017

Swedish power company Vattenfall has established a new electricity network business in the UK, Vattenfall Networks.

The new business unit will own and operate electricity networks in Great Britain. Its operations are expected to begin next year. The company recently received operating licence from British energy regulator Ofgem and it is part of Vattenfall's plans to establish a smart and independent electricity distribution network operations in the country.

Vattenfall president and CEO Magnus Hall said: “This is an another important step for Vattenfall in the UK which is an interesting market where we see good opportunities to further grow with our climate smart energy solutions.

“This is in line with our overall strategy to become fossil free in a generation and supporting our customers in reducing their carbon footprint.”

The new company will be headed by managing director, Stewart Dawson who has more than 30 years of experience in managing regulated and private networks in the UK.

Vattenfall Networks claims that it aims to grow organically as an independent distribution network operator (IDNO). The new unit has plans to build and operate new connections to the existing network in residential, retail or industrial areas.

 Vattenfall business area distribution head Annika Viklund said: “Vattenfall has extensive experience in operating electricity networks, including smart meters, and we are now also investing in micro grids and smart street lighting. We will use our expertise to develop the British networks business. Vattenfall will offer integrated and climate smart energy solutions to future customers in Great Britain.”