§ 7. Mr. FrenchTo ask the Secretary of State for Energy what progress has been made on the appointment of board members and the formation of the management team for Tranco.
§ Mr. ParkinsonI announced the chairman and chief executive designate appointments to the new national grid company which will control the national grid after privatisation on 9 June. Further designate appointments to the board were announced on 8 October. A copy of the press notice announcing these, and designate appointments to the boards of "Big and Little G", is being placed in the Library of the House. Good progress is being made in allocating senior management and staff between the successor companies.
§ Mr. FrenchWill my right hon. Friend explain what role he envisages for the board of Tranco and the two generating companies in the period prior to full privatisation?
§ Mr. ParkinsonThe designate boards will be making arrangements to take over the running of the companies after vesting day on 1 January 1990. There are a great many interim preparations to be made and they are being made now; for example, the sub-division of the assets and arrangements to continue research programmes. Work is going on to ensure that there is an easy transition on vesting day.