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Eastern Electricity

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to £3.74 billion and profit had risen to £212.6M, a 59% increase. The Telecom business was sold to NTL in January 1999, and purchased further stakes in North Sea gas fields. The retail business was renamed from Eastern Electricity, and its subsidiary Eastern Natural Gas, to Eastern Energy in 1999, with a restructure which saw its retail operations focused on Ipswich, Bedford and Rayleigh. The company purchased
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with the 4000 megawatts from National Power costing $ 2.5 billion, as part of its bid by the two generating companies to stave off the regulator. Its subsidiary, Eastern Natural Gas, was reported to be making a loss close to £40 million after a big push to grab market share after deregulation. Hanson ownership lasted until 1997, when The Energy Group was demerged from Hanson plc and floated on the
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in 1998. The Telecom business announced that it had developed its own equipment to use the companies powerlines for telecommunications in July 1998, with a further 550 km of lines being purchased that October. The business announced in 1999, that the company's turnover in 1998 had grown by 13%
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bought Eastern Group for £2.5 billion. Hanson purchased the remaining shares Eastern did not own in the jointly owned electrical retailer Powerhouse, but sold the business on as a going concern. In 1996, the Energy Group purchased 6000 megawatts of power stations from National Power and Powergen,
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with plans to integrate into TXU Energi. In April 2002, it was announced that the Russell House office in Ipswich would be demolished and be rebuilt as the company's new headquarters, replacing Wherstead Park, along with other Ipswich sites. In May 2002 TXU Europe won the bidding battle for
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for £200 million. This was followed by the sale of Peterborough and King’s Lynn Combined Cycle Gas Turbine (CCGT) power stations to Centrica in August. The company's agreed a partnership with Farm Energy, ABB, Powergen, and Royal Dutch Shell to develop the London Array wind farm.
434:, and purchased 5% of Hidroelectrica, a Spanish electricity company in 1999, which it grew to just under 20% in 2000. The company announced it was selling its metering business in October 1999. In 2000 TXU Europe purchased the retail business of 420:
Following the acquisition, Texas Utilities was renamed TXU Corporation, with the Energy Group renamed TXU Europe. Some of the purchase debt was indebted back onto the UK businesses. The group purchased gas fields in the southern
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in a takeover battle. Nomura pulled out of the bidding, and due to the hostile nature of the bids, both PacifiCorp and Texas Utilities were told to put in sealed bids. Before the deadline, PacifiCorp withdrew their bid, so
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The collapse of the business lead to former shareholders losing £19m, as during the takeover by Texas Utilities they had taken loan notes instead of cash for their shares, which were not secured.
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to protect the US business, after the European business was affected by a drop in wholesale prices and its credit rating dropping, caused by a large debt created at the purchase by TXU in 1998.
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to become 24seven Utility Services in 2000, before being sold to EDF permanently for £560m plus £740m of debt in 2001. The Eastern and London distribution networks were later sold on to
296:. The company was privatised later in the year in a stock market flotation, one of many UK Government public share offers that saw formerly state-owned utilities sold off, including 517: 442:. The combined retail business was renamed TXU Energi in August 2001. In a separate deal with United Utilities, TXU signed a seven-year deal with its customer service provider 2745: 2136: 2023: 986: 29: 2362: 2297: 2131: 163:
The key people on the board were: Chairman H. D. B. Wood (1964, 1967), Deputy Chairman C. C. Hill (1964, 1967), full-time member P. Sydney (1964) J. S. Mills (1967).
1704: 1998: 2185: 1575: 897:"Nigel shows his staying power A key worker from Bury St Edmunds has had his long service with the electricity industry recognised by employer UK Power Networks" 2346: 2016: 1539: 2568: 896: 399:. The bid expired before the Monopolies & Merger Commission completed their investigation, and PacifiCorp were joined by Texas Utilities and 1042: 2740: 968: 1482: 2705: 1448: 1980: 2695: 759: 1557: 1190: 1126: 1061: 734: 1366:"UK Domestic and Commercial Gas 1998: EASTERN NATURAL GAS IS THE LEADING INDEPENDENT GAS SUPPLIER TO UK DOMESTIC AND COMMERCIAL MARKETS" 1088: 2725: 2710: 1961: 2720: 1024: 1005: 2700: 2590: 1870: 1655: 1299: 1815: 2735: 1430: 2561: 652: 622: 157: 1942: 915: 2604: 2600: 2595: 2506: 1760: 846: 1412: 457:
Parliament. A formal cash bid was made to purchase the remaining shares in Hidroelectrica but this was later withdrawn.
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purchased TXU's UK retail businesses for £1.37bn ($ 2.9bn) later that year, after a takeover battle with
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The amount of electricity, in GWh, sold by the Eastern Electricity Board over its operational life was:
2630: 2491: 1796: 153: 269: 2730: 2660: 2170: 2165: 2067: 1154:"High Energy : PacifiCorp Lands $ 9.6-Billion Deal and Is Already Looking to Broker Even More" 2281: 2195: 1917:
Why Did Electricity Prices Fall in England and Wales? Market Mechanism or Market Structure? EL 02
531:, buying 74.9% for €420 million. TXU Energi was announced as the new sponsor of the Rugby League 2008: 1105: 395:, a US energy firm launched a $ 9.6 billion bid for The Energy Group, which was referred to the 156:. The board was responsible for the purchase of electricity from the electricity generator (the 2501: 2039: 500: 396: 39: 2620: 2457: 2256: 2226: 2205: 2200: 1503: 385: 349: 129: 2640: 2578: 2546: 2486: 446:, to manage its domestic retail customers. In July 2000, TXU Europe purchased 51% share of 341: 293: 152:(EEB) was formed in 1948 as part of the nationalisation of the electricity industry by the 8: 2115: 2110: 987:"Regulator orders National Power and PowerGen to generate competition Power-share appeal" 504: 871: 1393: 1385: 632: 571: 1300:"ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934" 2655: 2615: 2527: 1999:"Geograph:: Writing on the wall, Westwick Street,... © Stephen Richards cc-by-sa/2.0" 1686: 1612: 1397: 1132: 1067: 714: 686: 481: 345: 1663: 1593: 1307: 1209: 1377: 512: 496: 443: 439: 301: 1929: 1887: 265: 2331: 2043: 1381: 566: 492:
for £366 million. The company's shares in Hidroelectrica were sold in 2001.
409: 400: 337: 329: 325: 113: 83: 2077: 1687:"TXU to Sell Power-Distribution Business In England to London Electricity Group" 1248: 1171: 297: 2086: 1521: 369: 353: 321: 305: 133: 121: 101: 93: 2689: 2376: 532: 469: 373: 166:
The total number of customers supplied by the Eastern Electricity Board was:
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Former electricity supply and distribution utility serving Eastern England
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onto an old Eastern Electricity building on Westwick Street in Norwich.
2471: 489: 465: 392: 380: 365: 137: 1779:"Top Plant: London Array Offshore Wind Farm, Outer Thames Estuary, UK" 1466:"TXU to Become Second Largest Energy Retailer in the United Kingdom". 760:"Central Accounting Office for Eastern Electricity Russell Road Iswch" 388:. The business expanded into telecoms linking up with Esprit Telecom. 340:. Its former electrical stores were merged with those from the former 264:
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from 1958) and its distribution and sale of electricity to customers.
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won with a bid of $ 10 billion. Texas Utilities sold Peabody to
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in 1995, before being purchased by Texas Utilities in 1998.
2150: 1899: 627:. <corpname>Seeboard plc</corpname>. 1920–1990. 551: 454: 112:
was an electricity supply and distribution utility serving
1558:"WORLD BUSINESS BRIEFING: EUROPE; TXU BUYS UTILITY STAKE" 1210:"Nomura International Drops Its Bid to Buy Energy Group" 1063:
Marketing Accountability: Improving Business Performance
1059: 1962:"World Business Briefing: Europe; E.on to Buy Powergen" 527:(BS Energy), a German energy provider from the city of 495:
TXU Energi was announced in 2001 as the new sponsor of
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The origins of The Energy Group date back to 1990 when
935: 735:"CC21: Duke's Wharf, Duke Street (Former EEB offices)" 484:. In a separate deal in November 2001 TXU Europe sold 1540:"TXU acquisition creates UK's biggest power retailer" 585:
Companies merged into Eastern Electricity Board (EEB)
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In October 2002, TXU announced it was pulling out of
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Former nationalised industries of the United Kingdom
1594:"TXU Withdraws Its Offer To Purchase Hidroelectrica" 511:
In March 2002, TXU bought the UK retail business of
312:, with offices across the east of England including 680: 1761:"TXU leases 705 MW of gas-fired plant to Centrica" 1610: 1431:"Eastern and Hidroelectrica form trading alliance" 708: 1978: 1813: 1758: 1229: 1172:"Texas trumps rival with £4.3bn Energy Group bid" 2687: 1304:United States Securities and Exchange Commission 1191:"PacifiCorp blasts rival in bid for London firm" 969:"Powerhouse collapses with the loss of 800 jobs" 1900:Stewart Hamilton, Ivan Moss (17 October 2003). 1188: 1086: 713:. London: Electricity Council. pp. 51 56. 685:. London: Electricity Council. pp. 58 63. 2626:Merseyside & North Wales Electricity Board 1739: 1684: 1501: 1410: 1279: 1089:"Eastern set to lose millions in dash for gas" 711:Handbook of Electricity Supply Statistics 1989 683:Handbook of Electricity Supply Statistics 1979 2562: 2024: 1981:"Hanson shareholders lose £19m on TXU Europe" 1797:"TXU buys Amerada Hess' U.K. retail business" 1613:"Fury over further 600 job cuts in utilities" 1207: 1022: 1003: 966: 2063:Pre-nationalisation electric power companies 1742:"International Power in £250m deal with TXU" 1449:"TXU boosts stake in Spanish energy company" 1151: 1128:European Energy Industry Business Strategies 1124: 1106:Hanson hits 7-year low in run up to demerger 143: 1943:"SSE battles it out with Powergen over TXU" 1832: 1497: 1495: 1483:"TXU Europe's acquisition of Norweb Energi" 1006:"Eastern Group seeks partial switch to gas" 955:British utility agrees to Hanson's cash bid 284:In 1990, the assets of the board passed to 171:Eastern Electricity Board customers 1949–89 2569: 2555: 2031: 2017: 1914: 1902:Rise and Fall of TXU Europe ref.IMD-3-1274 1260: 27: 1263:"Eastern Electricity changes hands again" 931: 929: 653:"Landscapes of State Industry - The MERL" 605:"300-year-old mansion opens for weddings" 1853:"TXU buys Braunschweiger Versorgungs-AG" 1492: 1904:. Institute for Management Development. 1611:Macallister. Terry (15 December 1999). 1120: 1118: 1116: 1114: 936:Fagan. M, Stevenson. T (31 July 1995). 913: 666:Electricity Council Publicity Brochures 2688: 2603:(these two merged in 1955 to form the 2591:North of Scotland Hydro-Electric Board 1979:Harrison. Michael (17 February 2003). 1959: 1919:. Oxford Institute for Energy Studies. 1225: 1223: 926: 550:. Powergen was formally taken over by 279: 128:under which name it was listed on the 2741:British companies established in 1948 2601:South East Scotland Electricity Board 2596:South West Scotland Electricity Board 2550: 2012: 1480: 1370:Energy Exploration & Exploitation 1025:"£200m First Hydro windfall for Recs" 565:In 2006, artist Rory Macbeth painted 453:for $ 215 million from State Capital 412:for $ 2.3bn as part of the purchase. 2706:Energy companies established in 1948 1759:DEE SCHWANHAUSSER (24 August 2001). 1504:"TXU abandons British energy market" 1189:Marsh. Virginia (17 February 1998). 1111: 1087:Godsmark. Chris (1 September 1998). 704: 702: 676: 674: 250: 158:Central Electricity Generating Board 2696:Electric power companies of England 2605:South of Scotland Electricity Board 1685:Smith. Rebecca (20 November 2002). 1230:Harrison. Michael (30 April 1998). 1220: 967:Mesure. Susie (17 September 2011). 359: 13: 1888:US firm pulls plug in power crisis 1814:Harrison. Michael (2 March 2002). 1502:Teather. David (14 October 2002). 1249:Texas raises Energy bid to £4.46bn 1208:Calian. Sarah (12 February 1998). 1023:Rodgers. Paul (28 December 1995). 1004:Godmark. Cris (16 December 1997). 397:Monopolies & Merger Commission 308:. It subsequently became known as 14: 2757: 2726:1995 disestablishments in England 2711:Defunct companies based in London 1960:Kapner, Suzanne (10 April 2001). 1816:"TXU pays £117m for Amerada unit" 1060:Robert Shaw, Laura Mazur (1997). 785:"E.ON jobs bombshell for Ipswich" 699: 671: 450:energy business, Stadtwerke Kiel, 2721:Companies disestablished in 1995 2674: 2076: 1280:Fisher. Daniel (9 August 1999). 916:"Hanson buys ailing store chain" 432:Combined Heat & Power plants 410:Lehman Merchant Banking Partners 255: 2666:South Eastern Electricity Board 2651:South Western Electricity Board 2631:East Midlands Electricity Board 2616:North Eastern Electricity Board 2611:North Western Electricity Board 1991: 1972: 1953: 1935: 1930:Powergen buys TXU's British arm 1923: 1908: 1893: 1881: 1863: 1845: 1826: 1807: 1789: 1771: 1752: 1733: 1715: 1709:Power Engineering International 1697: 1678: 1656:"TXU Europe 2001 Annual Report" 1648: 1623: 1604: 1586: 1568: 1550: 1532: 1514: 1474: 1468:Power Engineering International 1459: 1441: 1435:Power Engineering International 1423: 1404: 1358: 1340: 1334:Power Engineering International 1322: 1306:. 21 March 2001. Archived from 1292: 1273: 1254: 1242: 1201: 1182: 1164: 1145: 1099: 1080: 1053: 1035: 1016: 997: 979: 960: 948: 907: 889: 864: 839: 821: 795: 474:South Eastern Electricity Board 2701:1948 establishments in England 1740:Morgan, Oliver (2 June 2001). 1413:"Eastern to cut 200 more jobs" 1261:Jameson. A (22 October 200w). 777: 752: 727: 659: 645: 615: 597: 478:regional electricity companies 290:regional electricity companies 1: 2636:South Wales Electricity Board 1915:John Bower (September 2002). 1859:. No. 20506. 2 May 2002. 1835:"Ipswich Village on Schedule" 1152:Kraul. Chris (14 June 1997). 957:New York Times, 1 August 1995 590: 518:Braunschweiger Versorgungs AG 415: 352:. Eastern purchased 12.5% of 132:and was a constituent of the 2736:Defunct companies of England 1833:Abbott.Lynn (9 April 2002). 1382:10.1177/0144598798016002-322 681:Electricity Council (1980). 464:were originally merged with 7: 2621:Yorkshire Electricity Board 872:"Branches - Eastern Energy" 829:"Rayleigh: Power jobs safe" 709:Electricity Cuncil (1990). 578: 560: 10: 2762: 2656:Southern Electricity Board 2641:Midlands Electricity Board 851:Company Search Made Simple 803:"The former E.ON building" 486:West Burton power stations 2672: 2646:Eastern Electricity Board 2586: 2515: 2479: 2470: 2450: 2441: 2421: 2400: 2384: 2375: 2355: 2339: 2326: 2306: 2290: 2249: 2240: 2219: 2158: 2149: 2124: 2103: 2094: 2085: 2074: 2050: 1932:BBC News, 21 October 2002 1890:BBC News, 14 October 2002 1330:"Eastern buys gas assets" 1232:"Texas bags Energy Group" 938:"Hanson bids for Eastern" 499:. In July 2001, TXU sold 212:No. of customers, 1,000s 150:Eastern Electricity Board 144:Eastern Electricity Board 136:until it was acquired by 89: 79: 71: 63: 55: 45: 35: 26: 2661:London Electricity Board 2068:Renewable Energy Systems 1765:Power Grid International 1723:"TXU Energi New Sponsor" 1108:Independent, 9 July 1996 490:London Electricity Group 304:, and the UK's regional 2579:area electricity boards 1801:Dallas Business Journal 1481:OFGEM (7 August 2000). 1411:Stevenson. Tom (1999). 847:"TXU (UK) Holdings Ltd" 624:ARCHIVE OF SEEBOARD plc 286:Eastern Electricity plc 110:Eastern Electricity plc 22:Eastern Electricity plc 2040:Electricity generation 1376:(2/3): 255–257. 1998. 1251:BBC News, 3 March 1998 637:: CS1 maint: others ( 501:Rugeley power stations 40:Public limited company 1544:Oil & Gas Journal 1453:Oil & Gas Journal 1158:The Los Angeles Times 1125:Atle Midttun (2001). 833:Essex County Standard 386:London Stock Exchange 130:London Stock Exchange 2716:Utilities of England 1066:. pp. 112–115. 739:Norwich City Council 342:Midlands Electricity 294:Electricity Act 1989 154:Electricity Act 1947 2058:Eastern Electricity 1877:. 12 December 2002. 1691:Wall Street Journal 1598:Wall Street Journal 1214:Wall Street Journal 903:. 2 September 2020. 835:. 14 December 1999. 505:International Power 476:, two other former 462:distribution rights 280:Eastern Electricity 173: 23: 1966:The New York Times 1949:. 21 October 2002. 1785:. 1 December 2014. 1711:. 25 January 2001. 1666:on 1 November 2021 1354:. 1 November 1999. 1352:New Civil Engineer 1336:. 2 December 1998. 1310:on 1 November 2021 1047:The New York Times 611:. 23 January 2010. 470:London Electricity 348:boards and called 169: 21: 2683: 2682: 2544: 2543: 2540: 2539: 2536: 2535: 2528:East Anglia Array 2466: 2465: 2437: 2436: 2371: 2370: 2322: 2321: 2236: 2235: 2145: 2144: 1635:UK Power Networks 1528:. 17 August 2001. 1437:. 1 January 1999. 1348:"Eastern promise" 901:UK Power Networks 791:. 4 October 2007. 554:in January 2002. 482:UK Power Networks 346:Southern Electric 277: 276: 246: 245: 124:. It was renamed 107: 106: 2753: 2678: 2571: 2564: 2557: 2548: 2547: 2507:Sheringham Shoal 2477: 2476: 2448: 2447: 2382: 2381: 2337: 2336: 2247: 2246: 2156: 2155: 2101: 2100: 2092: 2091: 2080: 2033: 2026: 2019: 2010: 2009: 2003: 2002: 1995: 1989: 1988: 1976: 1970: 1969: 1957: 1951: 1950: 1939: 1933: 1927: 1921: 1920: 1912: 1906: 1905: 1897: 1891: 1885: 1879: 1878: 1867: 1861: 1860: 1849: 1843: 1842: 1830: 1824: 1823: 1811: 1805: 1804: 1793: 1787: 1786: 1775: 1769: 1768: 1756: 1750: 1749: 1737: 1731: 1730: 1719: 1713: 1712: 1701: 1695: 1694: 1682: 1676: 1675: 1673: 1671: 1662:. 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401:Nomura Holdings 376:coal business. 362: 338:Bury St Edmunds 306:water companies 298:British Telecom 282: 273: 260: 256: 146: 114:Eastern England 84:Texas Utilities 17: 12: 11: 5: 2759: 2749: 2748: 2743: 2738: 2733: 2728: 2723: 2718: 2713: 2708: 2703: 2698: 2681: 2680: 2673: 2671: 2669: 2668: 2663: 2658: 2653: 2648: 2643: 2638: 2633: 2628: 2623: 2618: 2613: 2608: 2598: 2593: 2587: 2584: 2583: 2574: 2573: 2566: 2559: 2551: 2542: 2541: 2538: 2537: 2534: 2533: 2531: 2530: 2525: 2519: 2517: 2513: 2512: 2510: 2509: 2504: 2499: 2497:Gunfleet Sands 2494: 2489: 2483: 2481: 2474: 2468: 2467: 2464: 2463: 2461: 2460: 2454: 2452: 2445: 2439: 2438: 2435: 2434: 2432: 2431: 2425: 2423: 2419: 2418: 2416: 2415: 2410: 2404: 2402: 2398: 2397: 2395: 2394: 2388: 2386: 2379: 2373: 2372: 2369: 2368: 2366: 2365: 2359: 2357: 2353: 2352: 2350: 2349: 2343: 2341: 2334: 2324: 2323: 2320: 2319: 2317: 2316: 2310: 2308: 2304: 2303: 2301: 2300: 2294: 2292: 2288: 2287: 2285: 2284: 2279: 2274: 2272:Little Barford 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July 2010 794: 776: 751: 726: 719: 698: 691: 670: 658: 644: 614: 595: 594: 592: 589: 588: 587: 580: 577: 562: 559: 460:The company's 428:BG Group plc's 417: 414: 370:Peabody Energy 361: 358: 354:National Power 322:Wherstead Park 292:formed by the 281: 278: 275: 274: 263: 261: 254: 244: 243: 240: 237: 234: 231: 228: 225: 222: 219: 216: 213: 209: 208: 205: 202: 199: 196: 193: 190: 187: 184: 181: 178: 145: 142: 134:FTSE 100 Index 122:Greater London 105: 104: 102:United Kingdom 94:Wherstead Park 91: 87: 86: 81: 77: 76: 73: 69: 68: 65: 61: 60: 57: 53: 52: 47: 43: 42: 37: 33: 32: 15: 9: 6: 4: 3: 2: 2758: 2747: 2744: 2742: 2739: 2737: 2734: 2732: 2729: 2727: 2724: 2722: 2719: 2717: 2714: 2712: 2709: 2707: 2704: 2702: 2699: 2697: 2694: 2693: 2691: 2677: 2667: 2664: 2662: 2659: 2657: 2654: 2652: 2649: 2647: 2644: 2642: 2639: 2637: 2634: 2632: 2629: 2627: 2624: 2622: 2619: 2617: 2614: 2612: 2609: 2606: 2602: 2599: 2597: 2594: 2592: 2589: 2588: 2585: 2580: 2572: 2567: 2565: 2560: 2558: 2553: 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Index


Public limited company
Energy
Texas Utilities
Wherstead Park
England
United Kingdom
Eastern England
East Anglia
Greater London
London Stock Exchange
FTSE 100 Index
Hanson plc
Electricity Act 1947
Central Electricity Generating Board
Phabricator
MediaWiki.org
regional electricity companies
Electricity Act 1989
British Telecom
British Gas
water companies
Norwich
Ipswich
Wherstead Park
Rayleigh
Enfield
Bedford
Bury St Edmunds
Midlands Electricity

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