§ Mr. LeadbitterTo ask the Secretary of State for Energy under what powers borrowing is currently undertaken by the electricity supply industry; what is the current outstanding debt of the industry; what claims on capital he expects over the next three years; and whether he plans to increase the industry's borrowing powers.
§ Mr. Michael SpicerThe borrowing powers of the electricity supply industry are given by the Electricity Act 1957, section 15, the Electricity (Borrowing Powers) Order 1974, and the Statutory Corporations (Financial Provisions) Act 1974. The net outstanding debt at 31 March 1988 was £1,597 million. The ESI's capital expenditure is expected to he met wholly from internally generated funds in the next three years and my right hon. Friend has no plans to increase the industry's borrowing powers.