| Edmundsons Electricity Corporation Limited | |
| Type: | Public limited company |
| Industry: | Energy, Electricity supply |
| Fate: | Abolished by nationalisation |
| Founded: | 1897 |
| Defunct: | 31 March 1948 |
| Hq Location: | London |
| Hq Location Country: | England |
| Area Served: | England and Wales |
| Key People: | see text |
| Products: | Electricity generation and supply |
| Revenue: | See 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.
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. 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.[6]
In the 1930s the Edmondson Corporation consolidated and modernised its undertakings reducing them from 64 in 1932 to 23 in 1939.
The corporation was based around the following geographical groups.[7] [8]
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.
| Parameter | 1932 | 1946/7 | |
|---|---|---|---|
| Capital expenditure | £17 million | £41.5 million | |
| Mains constructed | 5,200 miles | 15,500 miles | |
| Receipts from electricity sales | £2 million | £12 million | |
| Electricity price | 2.7d./kWh | 1.7d./kWh | |
| Return on capital expenditure | 4.5 % | 2.8 % | |
| Coal price | 13s 8d. per ton | 44s per ton |
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. 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:
A summary of the financial profits of the corporation from 1905 to 1946 were as follows:[13] [14]
| 1905 | 58,823 | 1920 | 86,685 | ||
| 1906 | 59,993 | 1921 | 95,562 | ||
| 1907 | 35,588 | 1922 | 122,006 | ||
| 1911 | 47,649 | 1926 | 125,417 | ||
| 1912 | 54,264 | 1927 | 141,696 | ||
| 1913 | 61,684 | 1928 | 164,180 | ||
| 1914 | 65,666 | 1929 | 163,046 | ||
| 1915 | 65,311 | 1930 | 222,570 | ||
| 1916 | 61,772 | 1933 | 470,521 | ||
| 1917 | 64,521 | 1934 | 537,099 | ||
| 1918 | 59,920 | 1935 | 597,016 | ||
| 1919 | 55,604 | 1946 | 647,362 |
The inaugural directors of the corporation in 1897 were:
The registered office in 1897 was at 19 Great George Street, Westminster, London
The directors in 1935 were:
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.