§ Mr. YeoTo ask the Secretary of State for Energy what recent representations he has received regarding the progress of electricity privatisation.
§ Mr. Michael SpicerMy right hon. Friend and I continue to receive representations on a wide variety of topics related to electricity privatisation.
§ Mr. McCartneyTo ask the Secretary of State for Energy what is his most recent estimate of the gross cost of electricity privatisation to the national Exchequer; and if he will make a statement.
§ Mr. Michael SpicerIt is too early to make an estimate of the likely total costs of privatising the electricity supply industry. However, a provision of £30 million has been made in the supply estimate for 1989–90 in respect of electricity privatisation costs. Expenditure in earlier years was £0.8 million in 1987–88 and £5.5 million in 1988–89.
It is also too early to estimate the likely proceeds from the sale of the companies but experience from previous privatisations has shown them to have an outstanding record of value for money.