§ Mr. Sillarsasked the Secretary of State for Energy how he proposes to exercise his powers under the Statutory Corporations (Financial Provisions) Act 1974 in respect of losses incurred by the British Gas Corporation, the Central Electricity Generating Board and area electricity boards in the financial year 1973–74.
§ Mr. VarleyThe British Gas Corporation and the electricity boards in England and Wales have been advised that, subject to the approval of the House, I intend to pay compensation for price restraint in 1973–74 of £41.5 million in respect of British Gas and £176.3 million in respect of the electricity boards. These amounts are equal to the audited deficits on the revenue accounts of the bodies concerned. Draft orders seeking authority for these payments will be laid before the House as soon as possible.