BG contemplates selling of UK power plants
Economic pressures coupled with political unpredictability has sent the power sector of the UK into a tizzy. The observation has been further substantiated by the recent withdrawal of the British Gas Producer BG Group after it was reported that the company is putting up its power plants for sale.
Incidentally, last week, bidders filed in their first-round offers for the two power sale stations. One of them, which is Ballylumford Plant located in Northern Ireland is expected to fetch somewhere around 300 million pounds before it goes under hammer. While, the second plant wherein BG has a stake of of more than 50 percent, namely Seabank plant in Bristol could easily make 150 million pounds.
Certainly, the event, if true, has brought about a sea-change in the power sector business dynamics. Since, it indicate towards the fact that the once-booming power sector has hit a rough patch. This does not augers well for the utilities section and also for Online players that operate price comparison portals since, a sale directly means that an element of uncertainty can definitely creep in the process thus, giving a very disturbed picture to the commoners.
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