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Electricity Undertakings (Reserve Funds)

Volume 473: debated on Monday 3 April 1950

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100.

asked the Minister of Fuel and Power what representations he has received from the South-East Scotland Electricity Board and the South-East Scotland Electricity Consultative Council regarding the proposed acquisition by the British Electricity Authority of the substantial reserve funds held by the former local authority electricity undertakings in South-East Scotland; and if he will make a statement on this matter.

On 15th March, 1950, my right hon. Friend received from the South-East Scotland Electricity Board a submission regarding the disposal of general reserve funds under the Electricity Act, 1947. I understand that the Consultative Council agree with the views of the Board. The matter is now under consideration.