Written question asked by Alan Duncan (Conservative) on Thursday, 11 January 2001, in the House of Commons. It was due for an answer on Thursday, 18 January 2001. It was answered by Baroness Liddell of Coatdyke (Labour) on Thursday, 18 January 2001 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for Trade and Industry, what the nature was of the representations he received about his Department redeeming its special shares in Powergen and National Power; and what criteria were applied in the process that led to his Department redeeming the shares.

Answer: Mr. Duncan: To ask the Secretary of State for Trade and Industry what the nature was of the representations he received about his Department redeeming its special shares in Powergen and National Power; and what criteria were applied in the process that led to his Department redeeming the shares. [145731] Mrs. Liddell: The companies each wrote to my Department seeking redemption of their respective special shares. It is the Government's policy to consider any such request on its merits. In assessing whether to redeem the special shares my right hon. Friend the Secretary of State for Trade and Industry took into account whether the special shares were still valid and necessary in the context of a competitive market and a strengthened regulatory and competition framework. In line with NAO/PAC guidance, once my right hon. Friend the Secretary of State for Trade and Industry had taken a decision to redeem each special share he then also sought additional consumer benefits from the companies concerned.

Secondary information

Type: Written question
Reference: 361 c315-6W; 145731
Session: 2000-01
Subjects: Electricity generation Government shareholding Powergen National Power Shares
Link: View this Written question on www.publications.parliament.uk