Warwick-headquartered National Grid is in talks to offload its subsidiary Fulcrum, which connects properties to the main gas supply.

National Grid said it was negotiating with a potential buyer - reportedly a private equity firm - as part of its strategy to focus on low-risk activities.

A spokesman for National Grid said: “National Grid’s strategy is focused on operating regulated, low risk businesses safely, efficiently and reliably, and keeps its portfolio of activities under constant review.

“Fulcrum, on the other hand, operates in the competitive gas and electricity connections market, and National Grid can confirm it is in talks with a potential buyer of Fulcrum.”

Fulcrum completes 140,000 domestic, industrial and commercial gas connections per year and has worked on large projects like the connections for Heathrow Terminal 5.