Our company history

At Northern Ireland Electricity Networks (NIE Networks), our role has changed over the years as the energy market in Northern Ireland has changed. Here are some recent milestones:

  • 2015 - the company's name was changed to Northern Ireland Electricity Networks Limited (NIE Networks)
  • 2010 - ESB acquires NIE (and NIE Powerteam) from Viridian Group Limited
  • 2009 - NIE sells SONI (the Transmission System Operator (TSO) in NI) to Eirgrid – to further enhance the independence of the TSO in NI
  • 2008 - An independent NIE Board is established with a majority of independent non-executive Directors
  • 2007 - An all-island Single Electricity Market (SEM) is established. NIE Energy  and Power Procurement businesses (now known as Power NI) transferred to a separate Viridian subsidiary company – to ensure independence of distribution system operation under the 2003 EU Electricity Directive. NIE retains the transmission and distribution businesses
  • 2006 - Viridian Group PLC (which includes NIE) is acquired by Arcapita Bank: an investment bank based in Bahrain with a private equity arm.
  • 1998 - A new holding company, Viridian Group PLC, is created to take the group into new markets in the Republic of Ireland and the renewable energy sector along with new businesses in financial services
  • 1992/1993 - NIE privatised and floated on the London Stock Exchange. Power stations are split from networks and supply and sold to trade buyers

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