History
It had its origins as the North Eastern Electricity Board, formed as part of the nationalisation of the electricity industry by the Electricity Act 1947.
The assets of the board were transferred to Northern Electric plc in March 1990, and the company was privatised in December of the same year. At the end of 1996 the company was acquired by American corporation, CalEnergy, which formed a subsidiary, CE Electric to manage Northern Electric.
The company was split into supply and distribution arms under the Utilities Act 2000. In 2001, the supply business was disposed in an asset swap with npower, exchanging the North East consumer business for the distribution arm of Yorkshire Electricity.
The North East England distribution arm was retained by CE Electric, renamed Northern Electric Distribution Limited (NEDL) and merged with the newly acquired distribution arm of Yorkshire Electricity, which was renamed Yorkshire Electricity Distribution Ltd (YEDL) to form CE Electric UK. It is licensed as the Distribution Network Operator for the North East England region by the Office of Gas and Electricity Markets.
Read more about this topic: Northern Electric
Famous quotes containing the word history:
“Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
—Sidney Buchman (1902–1975)
“We don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)