About the Group
In March 2022, National Grid plc announced its intention to sell a 60% equity stake in the Gas Transmission and Metering business to a consortium led by Macquarie and British Columbia Investment Management Corporation.
The completion of the sale to a newly created holding company structure took place on 31 January 2023. Following completion of the sale the Company began to operate under a new name, National Gas Transmission plc. On 11 March 2024, National Grid completed the sale of a further 20% in the business to the existing consortium.
Above is an overview of the structure of the companies within our group.
Corporate Governance
National Gas Transmission plc is the main operating company for the National Gas Transmission group of companies. Its Board is responsible for strategic planning and overseeing the delivery of our objectives - and for ensuring that our culture and values are aligned to support the long term success of the Company.
The Board decides on the strategic direction, oversight of safety, approach to risk and setting values and standards for the group.
Board has delegated some of its duties and responsibilities to Board Committees. These Committees provide regular assurance to the Board on specific areas delegated to them. By exception, they escalate issues that merit full board discussion and decision. They are led by the shareholder nominated directors, and are shown below.
How we are owned
On the 11 March 2024, Macquarie Asset Management and British Columbia Investment Management Corporation increased their equity interest in National Gas Transmission to 80%, with National Grid maintaining a 20% interest in the business.
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. As the world’s largest infrastructure asset manager, it is trusted by institutions, pension funds, governments, and individuals, to manage investments in business across the world relied on by millions of people each day.
British Columbia Investment Management Corporation (BCI) is among the largest institutional investors in Canada. Based in Victoria, British Columbia, with offices in Vancouver and New York City, BCI is invested in: fixed income and private debt; public and private equity; infrastructure and renewable resources; as well as real estate equity and real estate debt through our independently operated platform company QuadReal Property Group. BCI’s infrastructure & renewable resources program invests in tangible long-life assets in the Americas, Europe, and Asia Pacific, including a portfolio of direct investments in regulated utilities, energy, telecommunications, transportation, timberlands, and agri-businesses.
