National Energy System Operator: National Grid plc
The question
To ask the Secretary of State for Energy Security and Net Zero, whether staff at the National Energy System Operator are permitted to own shares in National Grid.
Answered by Michael Shanks
New employees at the National Energy System Operator (NESO) are required to divest any holding of energy sector shares, including in National Grid plc.
For employees transferring from National Grid Energy System Operator there are legacy arrangements in place. They have been allowed to keep their existing shares in the energy sector to prevent any individuals unfairly losing out in the NESO transaction.
Employees are required to disclose shareholdings, seek approval for any share sales, and cannot purchase new shares.
The board and Executive team cannot acquire new energy sector shares and have to divest all existing holdings over time.
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