Five former directors of stakeholder Enron have set up px Ltd to operate and manage the 1875 MW Teesside power station and the Teesside gas processing plant on the same site, now under the control of administrators Price Waterhouse Coopers. The deal comes after months of negotiations with owners Teesside Power and Northern Gas Processing, and will secure the jobs of more than 200 people. px, whose contract extends until at least 2008, are now in negotiations with other plant owners around the UK to provide a similar operation and management service.
Meanwhile another former Enron company, Enron Teesside Operations (ETOL), now in the hands of administrators, has been put up for sale. 3 years ago Enron bought a 50 per cent stake from ICI for £300 m. ETOL provides a range of services including potable water, and power and steam from the Wilton 133 MW CHP station, to the chemical engineering complexes on the site. Several buyers have expressed an interest.
Linkedin
