The government has agreed to purchase Britain's electrical system operator (ESO) on terms offered by National Grid.

National Grid said on Friday that the enterprise value of the sale of ESO, which oversees the UK grid, is £630 million. The transaction is expected to finish early in January.

This is in line with government ambitions to establish a public organisation in charge of running the gas and electricity networks in Britain.

The UK's electricity network operations have traditionally been supervised by National Grid, with the ESO formally becoming a distinct company in 2019.

The corporation is in charge of managing the grid systems in the southwest region of England, the Midlands, and southern Wales as the distribution network operator.

The ESO is in charge of purchasing electricity or paying stations to lower production in order to manage the nation's energy supply in real-time.

Following the transaction, the National Energy System Operator for Britain will be established as an independent public organisation to oversee the grid as the country moves towards net zero energy.

(Sources: investing.com, proactiveinvestors.co.uk)