To ask the Secretary of State for Energy what consultations he has had with the chairman of National Power and PowerGen concerning a staggered sale of the share capital; what estimates he has made of the difference in net proceeds from a 100 per cent. sale and a staggered sale; and if he will make a statement.

My right hon. Friend has decided to offer for sale 60 per cent. of the share capital of National Power and PowerGen next month, subject to market conditions. The chairmen of the companies have been informed of this decision, which reflects the Government's confidence in the long-term future of the companies and the wish to maximise proceeds in time.