THE ORGANISATION which runs the North West's power network has been taken under new ownership.

This week, Electricity North West announced that the current owners have entered into an agreement to sell their remaining 50 percent stake in the company to investors composed of the Equitix consortium led by Japanese firm Kansai Electric Power Co. Inc. and China's CNIC.

John Roberts, Chair of Electricity North West, said: “We are a high performing organisation and I’m delighted that Equitix and the Kansai-led consortium are increasing their stake in the company, and that their confidence has attracted the additional commitment of CNIC.

“I am extremely proud of the contribution we make to the North West every day. This is down to the hard work, dedication and commitment of our people who continue to deliver industry-leading reliability and are set to enable the transition to a net-zero future across the region.”

This announcement follows the July acquisition of a 50 percent stake in Electricity North West by a Kansai-led consortium and Equitix.