Challenging the status quo: Privatizing electricity in England and Wales
- Energy Economic Engineering Ltd., London (United Kingdom)
Restructuring the electricity supply industry in England and Wales as a competitive business and subsequently privatizing it was probably the most complex industrial reorganization ever undertaken in the western world. It required solving problems that many thought insoluble. It involved breaking the conventional commercial relations of the industry, turning it around, and putting it back together again as an entirely novel market created from first principles. The sale raised $17 billion for the government in equity and debt, and created 12 million shareholdings. The flotation of the distribution companies-the Regional Electricity Companies (RECs)-was one of the largest ever undertaken, and definitely the most complex. The entire restructuring and privatization took four years and cost on the order of $1 billion.
- OSTI ID:
- 6771233
- Journal Information:
- Fortnightly; (United States), Vol. 132:14
- Country of Publication:
- United States
- Language:
- English
Similar Records
Contrasts in restructuring wholesale electric markets: England/Wales, California, and the PJM
Lessons for the US? Transmission pricing, constraints and gaming in England & Wales