History
On 31 March 1990 as part of the privatisation of the electricity system in England and Wales the area electric boards were changed into independent regional electricity companies (RECs) and the CEGB was split into four companies, three generation companies and National Grid Company, operator of the National Grid. The National Grid Company was placed under the ownership of the RECs. On 11 December 1990 the RECs were privatised. In 1991, the vertically integrated Scottish boards were mainly privatised whole, with the exception of their nuclear plants which were passed to Scottish Nuclear, and later privatised as part of British Energy.
In 2000, as part of further restructuring of the market under the Utilities Act 2000, the public electricity suppliers were required to have separate licenses for their supply business and distribution networks, which were renamed as distribution network operators (DNOs).
Read more about this topic: Public Electricity Suppliers
Famous quotes containing the word history:
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