Vattenfall is setting up a new business unit to own and operate electricity networks in the UK.
Vattenfall Networks is expected to start operations in 2018, having been granted an operating licence on 1 November by UK energy regulator Ofgem.
The unit is unbundled from, and independent of, Vattenfall’s existing UK sales and generation business and will be headed by managing director Stewart Dawson.
Vattenfall said the new unit will build and operate new connections to the existing network in new residential, retail or industrial areas.
Vattenfall president and chief executive Magnus Hall said: “This is in line with our overall strategy to become fossil free in a generation and supporting our customers in reducing their carbon footprint.”
Image: Vattenfall
