National Grid Transco Potential sale of gas distribution network businesses Initial thoughts on restructuring of Transco plcs Gas Transporter Licences

The purpose of this document is to consult upon modifications to Transcos existing GT licence and, if granted, each new additional GT licence, in the context of the proposed sale of one or more DNs by Transco. These modifications, both to the content and structure of the licences, would be required to ensure that the regulatory framework will be able to support the divested industry structure that would be in place should one or more DNs cease to be owned by Transco