(Reuters) -The British government is preparing to issue plans to strip UK-listed grid operator National Grid (LON:NG) of its responsibility for running the country's electricity system in favour of a new independent body, The Times newspaper reported on Monday.
The Department for Business, Energy and Industrial Strategy is planning to unveil a consultation outlining the creation of a "Future System Operator", which would manage the country's electricity system, alongside plans for a new governance framework for energy regulations, according to the newspaper https://
It said an announcement could come as early as this week.
The consultation will say that establishing an independent systems operator will help the country reach its net zero ambitions by ensuring a more co-ordinated approach between government, the regulator and industry, The Times reported.
It is likely that the proposals will say that responsibility for running Britain’s gas systems should remain with National Grid, the report added.
Britain's energy market regulator Ofgem recommended in January that an independent body be set up to help lead the way to the government's goal of net zero emissions by 2050. Ofgem had recommended that the body should be fully separated from National Grid.
National Grid was not immediately available for comment. The Times quoted the operator as saying it would work closely with the government and Ofgem on its future role.