New name for power giant
UNDER-fire power giant 24seven could be a thing of the past early next year, The Evening Star can reveal today.The name could disappear as part of a major review of the company's businesses after a rapid expansion over the last two years.
By PAUL GEATER
UNDER-fire power giant 24seven could be a thing of the past early next year, The Evening Star can reveal today.
The name could disappear as part of a major review of the company's businesses after a rapid expansion over the last two years.
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24seven – which maintains the distribution network throughout London and East Anglia – is part of the LE Group, a subsidiary of Electricite de France (EdF) which is owned by the French government.
Originally set up as a joint venture between TXU and London Electricity in 2000, TXU's half of the business was bought out at the start of this year.
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LE Group also owns London Electricity and SWEB – and this summer bought SEEBOARD
24seven spokesman Nick Akers said today that a review of the company's branding had been launched in August, after the SEEBOARD purchase, in an attempt to bring a common identity to the business.
At present LE Group's electricity suppliers, which also includes the Virgin Energy brand, are all competing in the same market.
It owns three separate power distribution networks: LPN (London Power Network), EPN (Eastern Power Network), and SEEBOARD Power Networks (in Kent, Surrey, and Sussex). LPN and EPN are maintained by 24seven.
"We have to maintain a different identity for the power supply and distribution businesses because of government regulations.
"But we are looking at streamlining the identity of the group," said Mr Akers.
But he emphasised this review had started long before last month's storm and said the criticism levelled at 24seven would have no bearing in the discussions.
"We are expecting to make an announcement either at the end of this year or early in 2003," added Mr Akers.