Constraints are likely to be placed on overall remuneration packages for a period after privatisation. The source said the Government would want remuneration viewed as "fair reward".
It is thought that for more than a year, ministers have been informally urging utility bosses to show restraint and sensitivity on pay policy, but to no avail. The source said that with hindsight, there is some regret that a tougher line on share options was not taken when the industries were privatised.
One nuclear industry insider said he was resigned to the fact that it would be held up as an example and a signpost for future privatisations.
The Greenbury committee
Sir Richard Greenbury Marks & Spencer
Sir Michael Angus Whitbread and The Boots Co.
Sir David Chapman Bt Wise Speke (Stock brokers) Newcastle
Sir Denys Henderson Rank Organisation
Sir David Lees GKN
Geoff Lindey JP Morgan
Tim Melville-Ross Institute of Directors
George Metcalfe Umeco
Sir David Simon British Petroleum
Sir Iain Vallance British Telecom
Robert Walther Clerical Medical
John Grieves Freshfields
Peter Jeffcote Freshfields
Angus Maitland Maitland Consultancy
John Carney Towers Perrin
Matt Lewis KPMGReuse content