§ Mr. Foulkesasked the Secretary of State for Scotland, pursuant to his answer to the hon. Member for Moray and Nairn (Mr. Pollock) on 22 February, how the extra borrowing of the South of Scotland Electricity Board in 1981–82 will be financed; and if he will estimate its effect on the price of electricity to the consumer.
§ Mr. Alexander FletcherThe board has borrowed the necessary additional funds from the national loans fund in the normal way. Its additional financing costs will be offset to some extent by savings in generating costs and a proportion will be borne by the North of Scotland Hydro-Electric Board through the Scottish electricity boards' joint generating account. As my right hon. Friend told the House on 21 January, the closure of the smelter is unlikely to have any significant overall effect on the Boards' tariffs.