Edmundsons Electricity Corporation

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Edmundsons Electricity Corporation Limited
TypePublic limited company
IndustryEnergy, Electricity supply
Founded1897
Defunct31 March 1948
FateAbolished by nationalisation
HeadquartersLondon,
England
Area served
England and Wales
Key people
see text
ProductsElectricity generation and supply
RevenueSee table of net profit

The Edmundsons Electricity Corporation Limited was an electricity holding company that controlled and owned over 60 electricity undertakings throughout England and Wales. It was established in 1897 and was dissolved, despite its objections, as a consequence of the nationalisation of the British electricity supply industry in 1948.

Contents

History

The Edmundsons Electricity Corporation Limited [1] was founded in 1897. Its initial aim was to acquire and extend the business of Messrs. J. Edmundsons Company Limited of 19 Great George Street, Westminster. The latter was an electricity engineering company which, since 1888, had installed electricity systems in large buildings. [2] The corporation raised capital of £200,000 in 1897 by the sale of shares. The capital was used to build generating stations and electricity supply systems (electricity undertakings) in Folkestone, Winchester, Salisbury, Ventnor and Shrewsbury. [2] The corporation went on to acquire further electricity company franchises. For example:

In 1925 the Greater London and Counties Trust (GLCT) was established using American capital. [5] The aim of the trust was to acquire financially weak electricity undertakings and to offer an economic supply using an electricity grid scheme. In 1928 the GLCT acquired 95 per cent of Edmundsons Corporation shares, which at that time directly or indirectly controlled 29 supply companies. [5] [6]  

In the 1930s the Edmondson Corporation consolidated and modernised its undertakings reducing them from 64 in 1932 to 23 in 1939. [5]

Principal subsidiaries

The corporation was based around the following geographical groups. [4] [7] [8] [6]

Growth

At the general meeting of the corporation in July 1947 it was noted that the corporation had six main subsidiaries and owned 12 other companies and supplied an area of 15,000 square miles (38,850 km2) which was nearly a quarter of England and Wales. [9]  The development of the organisation since 1932 was also analysed. [9]

Parameter19321946/7
Capital expenditure£17 million£41.5 million
Mains constructed5,200 miles15,500 miles
Receipts from electricity sales£2 million£12 million
Electricity price2.7d./kWh1.7d./kWh
Return on capital expenditure4.5 %2.8 %
Coal price13s 8d. per ton44s per ton

Nationalisation

The Edmundson Corporation opposed nationalisation of the electricity industry. It claimed that state ownership would increase costs, become a burden on tax payer, and prevent consumer choice. [5] It spent £70,000 on an advertising campaign to this effect.

The Edmundson Corporation was abolished on 31 March 1948 under the terms of the Electricity Act 1947 [10] which nationalised the British electricity supply industry. The company's power stations and electricity transmission systems were vested in the British Electricity Authority. [11] The local distribution systems and the electricity supply functions were vested in the various geographical Electricity Boards.

The company was one of five electricity undertakings that operated over large geographical areas. Its assets were divided between two or more Area Electricity Boards. [12] The five companies were:

Corporation profits

A summary of the financial profits of the corporation from 1905 to 1946 were as follows: [13] [14] [7] [9]

Edmundsons Corporation net profit
YearNet profit £YearNet profit £
190558,823192086,685
190659,993192195,562
190735,5881922122,006
191147,6491926125,417
191254,2641927141,696
191361,6841928164,180
191465,6661929163,046
191565,3111930222,570
191661,7721933470,521
191764,5211934537,099
191859,9201935597,016
191955,6041946647,362

Key people

Company directors

The inaugural directors of the corporation in 1897 were: [2]

The registered office in 1897 was at 19 Great George Street, Westminster, London

The directors in 1935 were: [7]

By 1938 Sir Thomas Royden, later Lord Royden had been appointed as chairman, he remained chairman until nationalisation.  

In 1935 the registered office was at Thames House, Millbank, Westminster.

See also

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References

  1. ↑ "Grace's guide to British Industrial History, Edmundsons Electricity Corporation". Graces Guide. 20 May 2020. Retrieved 5 November 2020.
  2. 1 2 3 "Edmundsons Electricity Corporation". The Times. 22 April 1897. p. 13.
  3. ↑ "Edmundsons Electricity Corporation". The Times. 20 July 1908. p. 17.
  4. 1 2 Electricity Commissioners (1925). Electricity Supply – 1920–23. London: HMSO. pp. 152-66 160-63, 204–07, 212–15.
  5. 1 2 3 4 Hannah, Leslie (1979). Electricity before Nationalisation. London: Macmillan. pp. 228–29, 246–47, 349–50. ISBN   0333220862.
  6. 1 2 Electricity Commissioners (1947). Generation of Electricity in Great Britain year ended 31 December 1946. London: HMSO. pp. 6, 8, 9.
  7. 1 2 3 "Edmundsons Electricity Corporation". The Times. 27 November 1935. p. 19.
  8. 1 2 "Company News". The Times. 24 June 1938. p. 25.
  9. 1 2 3 "Company meeting". The Times. 7 July 1947. p. 10.
  10. ↑ "Electricity Act 1947". legislation.gov.uk. Retrieved 5 November 2020.
  11. ↑ Electricity Council (1987). Electricity supply in the United Kingdom: a Chronology. London: Electricity Council. pp. 60–61, 69, 76. ISBN   085188105X.
  12. ↑ "Electricity Act 1947". The Times. 10 March 1948. p. 23.
  13. ↑ "Edmundsons Electricity Corporation Limited". The Times. 20 July 1908. p. 17.
  14. ↑ "Edmundsons Electricity Corporation Limited". The Times. 8 July 1930. p. 20.
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