Definitions

SWALEC

SWALEC

SWALEC (South Wales Electricity) was an electricity supply and distribution company which was bought out in 1996 for £872m following the de-regulation of the electricity supply industry in the UK.

The purchaser, newly privatised company Welsh Water, rebranded itself as Hyder. The business plan was to make significant logistical savings by combining the field activities of Electricity and Water operations by co-locating in a reduced suite of offices and operational depots.

Swalec was the sponsor of Wales WRU Challenge Cup, named the SWALEC Cup. The SWALEC Cup Final was the last game at Wales’ National Ground in 1997 before the development of the Millennium Stadium.

In 1997 SWALEC Gas was set up to take advantage of the deregulation of the gas market in the UK which took place in stages from 1997 to 1998. An advertising campaign was launched featuring Wimbledon F.C. and Wales footballer Vinnie Jones.

In February 2000, the retail electricity and gas business under the Swalec brand was sold to British Energy for a reported £105m. The sale included the Swalec retail brand, whilst Hyder retained the Swalec electricity distribution business (i.e. running the electricity network) which was renamed Infralec.

In August 2000 Scottish and Southern Energy plc (SSE) agreed to buy the electricity and gas supply arms of Swalec, along with the brand, from British Energy for a reported price of £210m.

In September 2000, Western Power Distribution brought Hyder for £565 million, sold Welsh Water and renamed Infralec, WPD South Wales.

Swalec remains a brand used by SSE for the supply of electricity and gas in Wales.

External links

Search another word or see SWALECon Dictionary | Thesaurus |Spanish
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature
FAVORITES
RECENT

;