Engie takes control of UK Power Networks

Engie has announced the acquisition of British distributor UK Power Networks. For Engie, this move is aimed at strengthening its position in electricity and regulated activities in order to reduce the weight of fossil fuels in the group's business portfolio and lessen its exposure to volatile energy market prices. The purchase price is €12 billion. UK Power Networks owns and operates electricity distribution networks in London and the east and south-east of the United Kingdom. In 2024-2025, UK Power Networks generated revenue of £2.3 billion and net profit of £866 million. The company operates a 192,000-kilometre network, serves 8.9 million customers and delivers 71 TWh of electrical energy per year.