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Engie to Acquire UK Power Networks for £10.5 Billion

2/26/2026

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Summary

Story summary

Engie has agreed to acquire UK Power Networks for £10.5 billion, advancing its goal to become a leading energy transition utility.
UK Power Networks operates 192,000 km of power lines and serves 8.5 million customers in London and the southeast of England.
The deal follows UK regulator approval of Iberdrola’s purchase of Electricity North West, as part of a £22 billion plan to upgrade Britain's distribution networks by 2028.

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Story summary

Engie has agreed to acquire UK Power Networks for £10.5 billion, advancing its goal to become a leading energy transition utility.
UK Power Networks operates 192,000 km of power lines and serves 8.5 million customers in London and the southeast of England.
The deal follows UK regulator approval of Iberdrola’s purchase of Electricity North West, as part of a £22 billion plan to upgrade Britain's distribution networks by 2028.