The national electricity grid operator EirGrid is to buy the company which operates Northern Ireland’s electricity network in a deal worth around €38 million.
Belfast-based SONI Limited is a subsidiary of Northern Ireland Electricity (NIE) which in turn is owned by Irish energy provider Viridian.
In a statement issued today, NIE said the deal to sell SONI to Eirgrid was consistent with an agreement reached between the North’s authorities to “enhance the independence of the Transmission System Operator (TSO) in Northern Ireland”.
Both companies are already partners in the Single Electricity Market Operator (SEMO) joint venture whichoperates the all-island wholesale single electricity market (SEM).
The sale, which is subject to the approval of the Competition Authority here and certain amendments to SONI’s licences, is scheduled to be completed by October.
EirGrid chief executive Mr Dermot Byrne said: “We see this very much as a practical step, building upon the common work which has been going on in relation to electricity markets in each jurisdiction.
Mr Byrne said: “It is based on four elements that EirGrid and SONI share - our functions as transmission system operators carrying out similar work in our respective jurisdictions; our priorities of delivering safe, secure, reliable and economic transmission of power, respectively in the Republic of Ireland and Northern Ireland; quality in the form of both companies’ extremely experienced, well trained and qualified staff; and the joint successful operation of the Single Electricity Market.”