National Grid plans to restructure under new strategy
The National Grid (PSE) has drafted a restructuring and privatization plan
calling for its division into four parts, two of which would be floated on
the stock exchange. "We presented our plan to the Treasury Minister and he
did not say no," said PSE president Stanislaw Dobrzanski. The program calls
for public offerings of PSE-Operator, the company which is to remain in
charge of the electricity grid, and Tel-Energo Holding, a telecoms and IT
branch of the PSE conglomerate. Meanwhile, a 49% stake in ESP, PSE's
environmentally-friendly energy producing division, is to be sold to a
financial investor. "ESP plays a vital regulatory role in the energy system
and should remain under PSE's control until at least 2005," said Dobrzanski.
The only PSE division which would be sold to a strategic investor under the
proposals would be electricity trading firm Electra S.A. (Puls Biznesu, p.
4) T.J.
