What happened: French utility Engie has agreed to acquire UK Power Networks, which owns electricity cables and power lines in London and the south-east and east of England, in a £10.5 billion deal.
Why it matters:
- The acquisition expands Engie’s presence in the UK energy infrastructure sector.
- It affects electricity distribution across major regions including London and the south-east.
MNN Take: This deal represents Engie’s strategic move to strengthen its role in the energy transition by owning key UK power infrastructure assets.
Sources: Guardian UK