Power licence modification plan

Power licence modification plan

Plans to modify the licences of South Western Electricity and Eastern Group were published yesterday by Professor Stephen Littlechild, the electricity regulator.The changes, which ring-fence the finances of the electricity businesses and provide for extra information to be given to the regulator, have been agreed by Southern Electric International, which has taken over Sweb, and Hanson, which has taken over Eastern.

The takeovers were allowed to proceed without a reference to the Monopolies and Mergers Commission on condition that new licence terms were agreed with the regulator.