§ Mr. MorganTo ask the Secretary of State for Energy when he expects to announce his decision on flotation of the generating boards by(a) placing (b) tender or (c) general sale to the public.
§ Mr. BaldryDecisions have yet to be taken on the precise structure of the sale of National Power and PowerGen. I announced on 28 February that the sale would take place in February 1991 subject to market conditions.
§ Mr. MorganTo ask the Secretary of State for Energy when he expects to announce what proportion of the shares of the electricity(a) distribution and (b) generating companies will be sold to (i) United Kingdom, (ii) other European community and (iii) foreign investors and institutions.
§ Mr. BaldryDecisions have yet to be taken on the precise structure of the sale of the 12 regional electricity companies, National Power and PowerGen. These will be determined by a number of factors, notably market conditions, nearer the time of the sales.
§ Mr. MorganTo ask the Secretary of State for Energy what estimate he has made of the savings in public expenditure resulting from placing of the shares in the electricity supply industry companies.
§ Mr. BaldryThe cost to the taxpayer of privatising the electricity supply industry is being kept to the minimum commensurate with maximising the proceeds from the sales and achieving a successful privatisation. No final decisions have yet been made on the structure of the offers.
§ Mr. MorganTo ask the Secretary of State for Energy what is his most up-to-date estimate of the total cost of the advertising budget to publicise the privatisation of(a) the electricity distribution companies and (b) the generating companies, in 1990–91 and 1991–92.
§ Mr. BaldryI refer the hon. Member to the answers given by my right hon. Friend the Secretary of State to the hon. Member for Holborn and St. Pancras (Mr. Dobson) on 1 May and 6 June 1990.
§ Mr. MorganTo ask the Secretary of State for Energy when he expects to announce the name of the advertising agency that has been commissioned to publicise the privatisation of the electricity generating companies; and if he will make a statement.
§ Mr. BaldryA number of advertising agencies have been invited to apply for the job of providing the pre-flotation advertising campaign for the privatisation of the generating companies. An announcement will be made when the decision on the appointment has been made.