Ed Miliband has announced a £630million deal that means the Government will take control of the organisation behind Britain’s power systems.
The Government has acquired the National Grid’s electricity system operations unit, which is the division tasked with keeping the country’s lights on and balancing supply with demand.
The National Energy System Operator (Neso) will oversee planning for the UK’s gas system from next month, once it falls into public ownership.
The cost of the deal will be initially met by the taxpayer but will be largely recouped via charges on energy bills.
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Miliband will serve as Neso's sole shareholder, while former E.On chief executive Paul Golby will be appointed chairman and Fintan Slye will be responsible for day-to-day operations as its chief executive.
A spokesman for the Energy Department added: “Whilst the Energy Secretary will be the sole shareholder of Neso, we are deliberately setting Neso up to be operationally independent of government.”
The deal aims to remove barriers between the planning of gas and electricity networks by bringing under them one organisation.
That in turn is expected to help ministers accelerate the decarbonisation of Britain’s energy networks.
Ed Miliband announced a £630m deal that means the Government will take control of the organisation behind Britain’s power systemsPAMiliband said public ownership of Neso would help “build a network that is fit for the future”.
Neso will become part of a web of new organisations overseeing UK energy planning, including GB Energy and a so-called Mission Control unit.
All three will work with Great British Nuclear, another new body within the Energy Department responsible for driving the delivery of new nuclear projects.
A whopping 97 per cent of GB News members who voted in the poll do not trust Ed Miliband with Britain's electricity network.
On the other hand, just two per cent trust Miliband, with one per cent unsure.