§ Mr. HardyTo ask the Secretary of State for Energy what was the level of capital expenditure in the electricity supply industry in 1987–88; and what is his estimate of the level of such capital expenditure in 1988–89 and 1989–90.
§ Mr. Michael SpicerCapital expenditure by the electricity supply industry in 1987–88 amounted to £1,089 million. Investment approval for 1988–89 and 1989–90 amounts to £1,474 million and £1,644 million respectively.
§ Mr. HardyTo ask the Secretary of State for Energy what amount planned expenditure on capital investment to the electricity supply industry during 1988–89 was raised following his decision that electricity prices should be increased from April 1988.
§ Mr. Michael SpicerThe decision to raise the financial targets of the industry was taken in the light of the forecast disappearance of surplus capacity and the longer-term needs of the industry, not short-term changes in the industry's capital investment programme. The decision on the financial targets did not therefore lead to an increase in the planned capital investment of the industry in 1988–89.