British Gas sues government for 1bn pounds sterling
Article Abstract:
British Gas, UK gas utility, is taking the UK Department of Trade and Industry (DTI) to court for repayment of taxes. The DTI refutes the claim, and has issued protective writs against 27 gas and oil companies. In 1981 the government introduced a gas levy to compensate for North Sea gas contracts not being covered by petroleum revenue tax. According to analysts British Gas's action could be aimed at trying to persuade the government to cut the levy on gas bills.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Littlechild slashes 1bn pounds sterling from Grid revenues
Article Abstract:
The National Grid will see its revenues cut by 1 billion pounds sterling under a strict new price regime put forward by Professor Stephen Littlechild, head of electricity watchdog Offer. Revenues will fall by 20-26% in the first year of a four-year price control programme beginning in Apr 1997, with increases being restricted to 4% below the rate of inflation in each of the following three years. Consumers will see average savings of 4-5 pounds sterling a year.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Gas prices row set to end in MMC referral
Article Abstract:
British Gas is continuing to clash with industry watchdog Ofgas over price controls for TransCo, the British Gas pipeline operation. This issue may now have to be referred to the Monopolies and Mergers Commission. British Gas claims that concessions made by Clare Spottiswoode, the industry regulator, are not sufficient and warns that there is still a danger of 8,000-10,000 redundancies. It has expressed its disappointment with revised price controls.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Comment about this article or add new information about this topic:
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