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News that Alex Salmond, the leader of the ruling SNP in Scotland, has been somewhat liberal with his recent comments about housing budgets and assistance has caught the attention of opposition...
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Thursday 24th July 2008
In a move which will infuriate consumer groups it has been reported that a joint bid by Centrica and Electricite de France could see British Energy become the next UK power supplier to bite the dust and move into foreign hands. While nothing has been agreed as yet the management of British Energy has confirmed that they are in discussions about a possible £12 billion takeover.
This is not the first time the group has been the subject of takeover speculation, with a move earlier in the year failing because of limited value to shareholders. It is not known whether an offer will actually materialise from the current talks but we again face the threat of UK energy costs being controlled by a foreign master.
No doubt the industry regulator will be taking a keen interest in the ongoing negotiations with concerns especially high bearing in mind the recent rise in the cost of energy and the controversial debate about increasing the UK’s dependence on nuclear power. However, while countries such as France fight tooth and nail to retail control of their utility companies, the UK authorities have yet to step in the way of any foreign takeover on the grounds of protecting the UK consumer. |
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