BusinessBusiness RecoveryLondon Electricity demands £200m Enron payout

London Electricity demands £200m Enron payout

UK power company London Electricity believes it is owed £200m by Enron Europe, and has filed a claim with its adminstrator, PricewaterhouseCoopers, for this amount.

According to reports, the claim relates to a gas contract signed when London Electricity bought Enron’s gas-fired power station in Lincolnshire two years ago.

As part of the deal Enron agreed to supply the power station with gas for 14 years – but this was terminated when Enron Europe went into administration last November.

In February, PwC confirmed that liabilities at Enron Europe, the holding company for the European companies, were likely to run into the ‘billions of pounds’.

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