We worked closely with the government on the purchase from National Grid of the Electricity System Operator to form the publicly owned National Energy System Operator (NESO).
The Government Actuary's Department (GAD) worked with the Department for Energy Security and Net Zero (DESNZ). DESNZ decided to set up NESO to drive progress towards net zero while maintaining energy security and minimising costs for consumers.
Clean power
The change means Britain's energy system will be planned by a new publicly owned organisation as part of an overall plan to help deliver clean power by 2030.
It will help connect new generation projects with the electricity grid, working alongside Great British Energy to deploy renewable energy. NESO launched on 1 October 2024.
GAD's expertise
We worked to time-critical deadlines and provided substantial support around the specialist issue of pensions.
Support and advice
Our support for DESNZ involved collaborating with numerous parties inside and outside government, working closely with DESNZ's legal advisers. We were pleased to receive feedback from DESNZ on our "excellent service, support and advice".
Claire King (Head of Implementation at DESNZ for this project) worked with the GAD team and said: "GAD approached this transaction with the utmost professionalism. The team dealt with the many stakeholders as our subject matter experts in pension transfers and managing investment risk. Their experience and enthusiasm helped us to drive the project forward and reach a solution that took account of all parties' needs."
