Electricity Company Profits

EDM number 1506 in 1993-94, proposed by Nigel Griffiths on 13/07/1994.

That this House condemns the privatised electricity companies for awarding their directors and boardroom members massive salary increases and over ú18 million in share options; notes that the directors of East Midlands Electricity, Midlands Electricity, Swalec and Southern Electricity have received ú7 million in options and that the 12 electricity companies have overcharged consumers as much as ú650 million; regrets that the regulator has permitted gross profiteering and high electricity prices; and calls on the Government to establish an independent inquiry into electricity prices, boardroom perks and profiteering by the 12 companies.

This motion has been signed by a total of 72 MPs.