Moved by
Lord Berkeley
53: After Clause 5, insert the following new Clause—
“Divestment of retail business
(1) Any electricity generator which also supplies electricity to either domestic, commercial or industrial users shall, within two years of this Act coming into force, divest itself of its supplier business so that—
(a) an electricity generator shall have no financial interest in, or exercise any right over, a supplier of electricity or gas;
(b) a supplier of electricity or gas shall have no financial interest in, or exercise any right over, an electricity generator;
(c) no person may hold a directorship of an electricity generator and a supplier of electricity or gas concurrently,
and any contracts entered into between any of the divesting parties shall cease to have effect when this section comes into effect.
(2) Generators which have a direct contract to supply the majority of their output to a defined site through a private transmission scheme are exempt from this section.”