The biggest UK electricity companies have agreed to pay a record £2bn to buy out their UK electricity generation businesses, in a deal which could see them control the country’s electricity supply.
The deal is likely to be announced by the end of the week.
The announcement comes a day after the UK government announced it was to introduce a bill of around £20,000 to help small and medium-sized businesses to invest in energy projects, including in renewables.
“This is a historic day for the UK,” Energy Secretary Amber Rudd said in a statement.
She said the deal was a win-win for the sector and its workers. “
Together, we will make the UK energy economy the envy of the world.”
She said the deal was a win-win for the sector and its workers.
The government said the deals would bring the total value of the deals to around £2 billion.