Treasury keeps out of GE cash row
Wednesday 27th May 2009, 1:00PM BST.
TREASURY distanced itself yesterday from Guernsey Electricity’s multi-million pound disagreement with the Office of Utility Regulation.
The utility company is expected to comment on its accounts today after a week in which the company spokesmen said it would consider a response.
The OUR believes GE should have £25m. in its capital spending cash pool by 2013.
However, Guernsey Electricity said it would be down to zero by that date.
Treasury say the cash pool currently contains around £16m.
Minister Charles Parkinson (pictured) said: ‘There are funding issues between Guernsey Electricity and the Office of Utility Regulation which are for those two parties to resolve.’
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