§ Dr. Hampson
asked the Secretary of State for Energy whether the present financial targets for the electricity supply industry in England and Wales will be relaxed to reflect the increases on electricity prices announced in the last Budget.
§ Mr. Lawson
Following the announcement made in the last Budget of new arrangements to help large industrial users of electricity, I have now agreed with the Electricity Council that the industry's financial target should be relaxed correspondingly. The financial target, defined as an average return on net assets over the period 1980–81 to 1982–83, will be reduced from 1.8 per cent. to 1.7 per cent. Targets for the individual boards are being adjusted accordingly.