Sharp eyes over at Namawinelake. It seems that the ESB might be making heft investments overseas.
Is this preparation for privatisation ? Is it the ESB - and if so, is it acting under its mandate ?
Is the ESB disguising a €2bn power station investment in England?
Last week Britain’s Private Eye magazine (page 9 of the current issue 1301, not available online) reported on the curious case of the proposed new power station at Thorpe Marsh near Doncaster in northern England. The 1,500 megawatt natural gas-powered station has been given the green light by David Cameron’s government. Nothing odd about this so far, though the development cost of the station is eye-watering – GBP 1bn (€1.2bn) to build and the operator also needs to have in place a contract with a natural-gas supplier to provide about GBP 0.5bn (€0.6bn) of gas a year to the station so that it can generate electricity. The developer would then have a contract to supply electricity to the UK’s national grid and would generate income and profit over a couple of decades which would pay for the initial investment.
What is odd is the development has been awarded to a company, Thorpe Marsh Power Limited, which doesn’t have assets of any great account. However the Eye reports that this company is fronted by a certain Peter Wilcox who has previously been associated with power companies whose registered address was 52/54 Gracechurch Street in the City of London. Which just happens to be the registered address of companies in the ESB international group.