Swedish power group Vattenfall has created a new electricity networks business unit in the United Kingdom (UK). The new subsidiary, Vattenfall Networks, is expected to start operations in 2018 and will support Vattenfall's investments and expansion in the British electricity market. The British energy regulator Ofgem has granted the electricity distribution operating license for the company. This marks the first step for the establishment of a new independent power distribution network.
Vattenfall already has experience in operating power networks and in particular smart meters. In the UK, the company has already invested around £3bn (€3.4bn) in the wind energy business and aims at operating around 1 GW of UK wind power by 2018. A significant contribution of this figure will come from the 228 MW Pen y Cymoedd wind project in South Wales, which reached full capacity in May 2017.