It has been a bad week for utilities company National Grid, as UK energy regulator Ofgem has fined the company £41.6 million for a breach of competition law. Ofgem has accused National Grid of restricting the development of competition in the domestic gas meter market. Contracts between National Grid and five of the six major energy suppliers included financial penalties for replacing more than the small number of meters allowed under the contract, which Ofgem alleges has severely restricted the rate at which National Grid's older meters can be replaced by cheaper or more advanced meters from rival operators. National Grid has said that it will appeal against the decision.
United Utilities sells Manchester unit
United Utilities has sold its Manchester-based facilities management arm to Europa Facility Holdings, a Hertfordshire-based business which has subsequently sold a minority stake to US-based venture-capital firm HIG Capital for £25m in order to fund the deal.
Europa employs 1,200 people at Welwyn Garden City and currently has a turnover of £25m. A spokesman for the firm said that United Utilities Facilities Management (UUFM) arm employed 300, and that its acquisition would take the combined operation’s sales towards a projected £60m. Existing UUFM clients include Northern Gas Networks and Welsh Water.
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