Generators await MMC decision
Friday 11 February 1994
The regulator has been in prolonged negotiations with the generators over electricity prices and the need for more competition in the generating market. Professor Littlechild, who had hoped to announce his decision by the middle of last month, believes that National Power and PowerGen have too much influence on prices in the electricity trading pool.
The companies have objected to demands by the regulator that they sell off plants to make way for more competition in generation. National Power has taken a strong stance on this issue, saying that it cannot be forced into 'distress' sales.
The length of time taken in discussions has increased speculation that all three parties are willing to compromise. An MMC reference would put paid to government plans to sell all or part of its 40 per cent stake in each of the generators in the near future, raising up to pounds 4bn.
Professor Littlechild has said that he would not rule out a reference of one company without the other, although analysts say that any MMC investigation in practice would have to cover the whole industry. National Power's shares fell by 12p to 461p. PowerGen fell by 17p to 525p.
World Beard and Moustache Championships held last week
- 1 'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
- 2 Number of global billionaires has doubled since the financial crisis
- 3 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 4 Of course, teenage girls need role models – but not like beauty vlogger Zoella
- 5 North Korean officials 'publicly executed for watching South Korean soap operas'
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Number of global billionaires has doubled since the financial crisis
Elizabeth Norment dead: House of Cards actress honoured by Kevin Spacey after she dies aged 61
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
Nigel Farage and Frankie Boyle clash over Andrew Lawrence's 'Mock the Week' criticism
iJobs Money & Business
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...