In 2009, EirGrid plc acquired SONI Ltd. EirGrid plc is the licensed electricity transmission system operator (TSO) for Ireland and is regulated by the Commission for Regulation of Utilities (CRU). SONI Ltd is the licensed TSO for Northern Ireland and is regulated by the Utility Regulator (UR).
On 30 August 2022, the UR published its decision on SONI governance and modifications to SONI’s TSO licence. These modifications were codified into SONI’s licence on 26 October 2022. A full list of the licence modifications can be found here.
The new licence conditions require the establishment of a majority independent SONI Ltd board of directors (with all directors approved by the Utility Regulator) along with managerial, operational and resource independence from EirGrid.
In a key milestone to implementing the new governance arrangements required under SONI’s licence, four new independent directors have been appointed to the board of SONI Ltd with effect from 1 October 2023.
EirGrid will continue to work with SONI to de-merge the businesses in compliance with the new licence condition.