PowerGen makes plea to be allowed to buy a REC
PowerGen was blocked by the previous government from buying Midlands Electricity on the grounds that it would undermine competition. However, it has never given up on its long-term ambition to add a supply business to its generating activities
Writing in The Independent, Mr Wallis says that if the opening up next spring of the domestic electricity market to competition is to succeed there need to be five or six strong players, much as in petrol, banking and supermarkets.
"The risk of competition being stalled or moribund as 12 incumbent monopolies simply try to defend their own home territory would end," he says.
Scottish Power and the Energy Group - currently the subject of a pounds 3.7bn bid from PacifiCorp of the US - already generate, supply and distribute electricity. "Allowing other generators to expand into electricity distribution and supply would break the current impasse ... And it will give domestic competition the kick start that it so desperately needs."
John Battle, the Energy Minister, was among a group of MPs who had dinner with Mr Wallis at the Labour Party conference in Brighton this week. Mr Battle is currently developing a new energy policy and has also taken a lead role in trying to ensure that domestic competition starts on time.
Analysts think it unlikely that PowerGen would make a move for a REC before next year.
Pope Francis: Being an atheist is alright as long as you do good
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
Man and woman arrested on suspicion of conspiracy to murder victim of Woolwich machete attack, named as Drummer Lee Rigby
'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
Exclusive: Suspect was inspired by cleric banned from UK after urging followers to behead enemies of Islam
- 1 Pope Francis: Being an atheist is alright as long as you do good
- 2 Man and woman arrested on suspicion of conspiracy to murder victim of Woolwich machete attack, named as Drummer Lee Rigby
- 3 'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
- 4 Archaeologists uncover nearly 5,000 cave paintings in Burgos, Mexico
- 5 Woolwich attack: The EDL will seek to exploit this evil crime for their own evil ends
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.