More power firms set to close retail outlets
Monday 03 April 1995
RECS ON THE HIGH STREET Regional Electricity Company Profits and losses Manweb £0.5m loss in year to March `95. Sold to Scottish Power for £3m. £16m provision.
Scottish Power £7.4m profit on £114m sales. Expanding.
Homepower (East Mids, Yorkshire) £6.8m loss in 6 months to Sept'94. Sold to Powerstore. £60m provision.
London Electricity Sold to Powerstore in `93 after substantial losses and £20m write- off.
Powerhouse Lost £7.4m last yr. Tipped as sale candidate (Southern, Eastern, Midlands)
Sweb Lost £0.5m on £35.5m sales in 6 months to Sept'94
Seeboard £1.8m profit on £54.3m sales `93-94
Norweb £7.1m profit on £187m sales `93-94. Expanding superstores aggressively.
Northern Electric £2.7m profit on £43.4m sales `93-94
Scottish Hydro Sales £28.8m. Profits "satisfactory"
Northern Ireland £0.5m profit on £26.3m sales `93-94.
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