👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Britain's National Grid drops China-based supplier over cyber security fears - FT

Published 17/12/2023, 06:21
© Reuters. FILE PHOTO: Electric power transmission pylon miniatures and National Grid logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
NG
-

(Reuters) -Britain's National Grid (LON:NG) has started removing components supplied by a unit of China-backed Nari Technology's from the electricity transmission network over cyber security fears, the Financial Times reported on Sunday.

The decision came in April after the utility sought advice from the National Cyber Security Centre, a branch of the nation's signals intelligence agency GCHQ, the newspaper quoted a Whitehall official as saying.

National Grid declined to comment citing "confidential contractual matters". "We take the security of our infrastructure very seriously, and have effective controls in place to protect our employees and critical assets to ensure we can continue to reliably, safely and securely transmit electricity", it said in a statement.

The FT said an employee at the Nari subsidiary NR Electric UK had said the company no longer had access to sites where the components were installed and that National Grid did not disclose a reason for terminating the contracts.

It quoted another person it did not name as saying the decision was based on NR Electric UK components that help control and balance the grid and minimise the risk of blackouts.

It was unclear whether the components remained in the electricity transmission network, the report said.

© Reuters. FILE PHOTO: Electric power transmission pylon miniatures and National Grid logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

NR Electric UK, GCHQ and the Chinese Embassy in London did not immediately respond to Reuters requests for comment outside business hours.

Britain's Department for Energy Security and Net Zero said that it did not comment on the individual business decisions taken by private organisations. "As a government department we work closely with the private sector to safeguard our national security," it said in a statement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.