Our History: National Gas
About Us
The creation of National Gas
| Date | |
|---|---|
| March 2022 | National Grid plc (National Grid) announced the disposal of a 60% equity interest in its UK gas transmission and metering business to a consortium of long-term infrastructure investors comprising Macquarie Asset Management and British Columbia Investment Management Corporation (together the Consortium). |
| January 2023 | The disposal of the 60% equity interest was completed and transferred to a new holding company, GasT TopCo Limited, owned by National Grid (40%) and the Consortium (60%). |
| February 2023 | The business was rebranded and the regulated operating company (which owns, manages and operates the gas National Transmission System) was renamed to National Gas Transmission plc. |
| March 2024 | The Consortium increased their equity interest in National Gas business to 80%, with National Grid maintaining a 20% interest in the business. |
| July 2024 | The Consortium exercised the option to acquire the final 20% equity stake in the National Gas group from National Grid. |
| September 2024 | The disposal of the final 20% equity interest held by National Grid was completed. |
Our owners:
As of the end of September 2024, our owners are:
Who | Ownership stake | What they do |
|---|---|---|
| Macquarie Asset Management | 60.09% | A global asset manager and the world's largest infrastructure manager. |
| British Columbia Investment Management Corporation | 27.71% | One of Canada's largest institutional investors. Provides investment services to British Columbia’s public sector. |
| Australian Retirement Trust | 12.20% | One of Australia’s largest super funds, providing investment services for its members. |
Introducing National Gas
Take a look at our webinar, recorded in February 2023, introducing the new National Gas business and explaining its role and operations.
History of the UK gas industry
Step back in time: from the early days of manufactured gas through nationalisation and the nationwide conversion to natural gas through to privatisation.
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Governance
Our Board has overall responsibility for ensuring the long-term success of the business. Find out more about our Board Committees, steering groups and approach to risk management.
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Our Business
Get to know the three businesses that make up National Gas, and find out more about our purpose, values and priorities.
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