London Electricity's
main business is the supply and distribution of electricity to approximately
2 million customers in the metropolitan London area. London Electricity
also has a number of other businesses such as owning and managing
private electricity networks and metering businesses and also holds
some interests in power generation.
However London Electricity is not actually
a UK owned company. In November 1998 London Electricity was sold
to Electricité de France (EDF), France’s national electrical
utility, for £1.39 billion. And before that it was owned by
a US utility company Entergy.
Electricité de France was established
in 1946, and is one of the world’s largest utilities with revenues
of £20.3 billion in 1997. It is an integrated public corporation
that is independent of the French State in terms of its management
and finances, not having received any form of subsidy for the last
15 years.
