UK Moves Towards Energy Independence with Grid Nationalization

Britain's National Grid agreed to sell the Electricity System Operator to the UK government for £630m ($827.95 million), including debt. The deal is expected to be finalized by 1 October. After that, the UK government together with the energy regulator Ofgem plan to create a new publicly-owned organization called National Energy System Operator or NESO.

The NESO will manage electricity and gas systems for the country. It aims to monitor and upgrade the national energy network. This is expected to pull Britain back from expensive and volatile fossil fuels into clean, affordable, and locally produced energy. This might cut energy bills, boost energy independence, and promote well-paid jobs in numbers.

Ed Miliband, secretary in the energy sector, argued that if the country truly emphasized clean energy, Britain shall more effectively control its power supply and less money shall be wasted in the future, coupled with the economic backbone.

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