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Gazprom To Sell Power to British

Russian gas giant Gazprom has taken steps to be allowed to sell electricity in Britain

In order to sell electricity, Gazprom needs approval from the Office of Gas and Electricity Markets, Britain's energy regulator, and a license to sell power to commercial and industrial users, the Daily Mail reports.

Gazprom's British unit, Gazprom Marketing and Trading, hopes to obtain the necessary license by May so the company can start to offer electricity packages to potential customers.

Gazprom already has about 14,000 gas service customers and hopes to expand its British business to electricity.

Market analysts have reported the Russian company might try entering the British electricity market by purchasing an existing local company like Centrica.

Author: Ksenia Kochneva