§ Mr. Spellerasked the Secretary of State for Energy if he will seek powers to ensure that the electricity boards pay the full market rate for deposits that they require from new small firms seeking a supply of electricity.
§ Mr. MellorNo. While the electricity area boards are required by statute to pay interest on deposits at a rate of only 4 per cent. per annum, they do, by agreement among themselves, pay interest at a higher rate. The rate paid is kept under review by the industry and is currently 10 per cent. per annum.