Strong Current of Interest Runs Through Energy Firms

Evening Standard - London › July 20, 2005

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Summary

CITY speculators are taking aim for a turkey shoot in Britain's power generation and supply market. Shares of the big electricity companies climbed higher today in the belief a foreign invasion may soon be under way and that most of our big operators are sitting ducks.

Scottish Power continued to make headway, rising 4p to a fouryear high of 508p with gossip suggesting its independent days are numbered. Potential bidders are said to include Germany's E.ON, which owns Powergen, and RWE of npower fame. EDF is a possible suitor and we can throw in our very own Centrica, 1p firmer at 2243/ 4p. One of them is expected to make a move soon now Scottish Power has agreed terms with American billionaire Warren Buffett to sell troubled US arm Pacificorp for a whopping Pounds 8 billion.

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Extract

Strong Current of Interest Runs Through Energy Firms

Followers of Scottish Power say the company may pre-empt any takeover by arranging a merger with Scottish Southern Energy, u...

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