Overview
- The French energy group agreed to acquire the electricity distributor for about £10.5 billion, or roughly €12 billion.
- UK Power Networks serves around 8.5 million customers across London, the southeast and east of England, with a network of about 192,000 km.
- The company’s regulated asset value stands near £9.2 billion and is projected to reach about £10.5 billion within two years.
- Investors welcomed the announcement, sending Engie shares up nearly 8%.
- Coverage frames the purchase as advancing Engie’s push to internationalize and accelerate its lower‑carbon strategy under CEO Catherine MacGregor.