Abstract
THIS survey of the electric supply industry is published under the auspices of the New Fabian Research Bureau, but the author alone is responsible for the views expressed. The conclusions are substantially in agreement with those in the Labour Party Policy Report No. 3. The ownership of local authority and company undertakings will be transferred to a reconstituted Central Electricity Board. The Central Electricity Board would issue new bonds secured on the revenue from the whole supply industry of the country in payment for the ownership. Difficulties in the way of doing this are clearly explained. Similar difficulties will arise in the socialisation of all industries. The present average yield on electric lighting shares is about 4 per cent; this would be replaced by redeemable bonds giving 3½ per cent and so the capital charges would be reduced by about 12 per cent. The advantages of mutual co-operation between gas and electricity supply are pointed out. One advantage of railway electrification would be to cheapen the cost of supply from the grid. The book is well written and free from dogmatism.
The Socialization of the Electrical Supply Industry
G.
H.
By. (Published for the New Fabian Research Bureau.) Pp. 104. (London: Victor Gollancz, Ltd., 1934.) 3s. 6d. net.
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The Socialization of the Electrical Supply Industry. Nature 136, 739 (1935). https://doi.org/10.1038/136739d0
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DOI: https://doi.org/10.1038/136739d0