1 MARCH 1997, Page 23

Sparks and taxes

THE Energy Group, which is powered by Eastern Electricity, is brought to the stock market and makes a flying start. Yorkshire Electricity finds an American suitor who is anxious to pay f11/2 billion for it. Say what you like, if anything, about Labour's plans for a windfall tax on these utilities, but it does not seem to put the buyers off. They clearly reckon that there will be enough money left over for the shareholders and even for the, er — what are those tiresome people called? Oh, yes, the customers.