Energy - Power station up for auction
WORKERS, JUNE 2006 ISSUE
A small coal-fired power station, refurbished with gas desulphurisation plant, meeting international emissions standards and with a productive life expectancy of 25 years, is expected to sell for over £120 million at auction.
The Uskmouth power station has passed from British public ownership (the Central Electricity Generating Board) to US utility ownership under AES, to bankruptcy following the collapse of the US utility company TXU, and most lately to a bidding consortium of German banks.
The demand for energy, adequate coal reserves, dwindling gas supplies with soaring prices and uncertainty of security of supply have all made Uskmouth a sought-after purchase. As Bolivia and Venezuela secure their energy reserves, why doesn't Britain?