§ Mr. DobsonTo ask the Secretary of State for Energy, pursuant to his answer of 18 June,Official Report, columns 117–18, if he will give for (a) 1987–88, ,(v) 1988–89, (c) 1989–90 and (d) 1991–92 estimates, the total costs of electricity privatisation, breaking down the figures for each year into (i) underwriting costs, (ii) selling and broking commissions, (iii) receiving bank costs, (iv) marketing, (v) advisers' fees and (vi) other costs.
§ Mr. WakehamTotal expenditure on electricity privatisation was as follows:
449W
Year £ million (VAT inclusive) 1987–88 0.8 1988–89 5.5 1989–90 12.5 Prior to 1990–91 there was no expenditure on items (i) to (iv) inclusive and only £0.2 million on item (vi) in 1989–90. For 1991–92 the Department has sought provision, through the supply estimates, for £116.7 million. Expenditure in 1991–92 is still the subject of commercial negotiation and it would be inappropriate to give further details at this time.
§ Mr. DobsonTo ask the Secretary of State for Energy what factors account for the difference in the total underwriting costs given in his answer of 18 June,Official Report, columns 117–18, and the sum of the costs given in his answers of 28 November 1990, Official Report, column 416, and 25 April, Official Report, column 498.
§ Mr. WakehamThe principal reason for the difference is that, following a re-classification, overseas underwriting is now included under the category "Selling and Broking Commissions". In addition, the underwriting costs referred to in my reply of 18 June also included the lead underwriting costs of £0.4 million on which information was not sought in the question of 28 November 1990.
§ Mr. DobsonTo ask the Secretary of State for Energy, pursuant to his answer of 18 June,Official Report, columns 117–18, if he will break down the underwriting total of £51.5 million into (a) United Kingdom primary underwriting for the regional electricity companies, (b) United Kingdom sub-underwriting for the regional electricity companies, (c) overseas underwriting for the regional electricity companies, (d) United Kingdom sub-underwriting for National Power and PowerGen and (e) overseas underwriting for National Power and PowerGen.
§ Mr. WakehamA breakdown of the £51.5 million previously reported is as follows:
£ million Regional electricity companies United Kingdom primary underwriting: 6.7 United Kingdom sub-underwriting: 29.5 United Kingdom lead underwriting 0.4 National Power and PowerGen United Kingdom sub-underwriting 14.9 Sub-total 51.5 Regional electricity companies Overseas commissions 13.3 National Power and PowerGen Overseas commissions 6.0 Total 70.8