CGE will face antitrust suits: rival

Rankings 2004

A senior US power executive has claimed “serious trouble” is brewing for the six European banks who formed CGE Power as a UK asset acquisition vehicle.

The banks – Abbey, Bayerische Landesbank, Bank of Scotland, HVB, Lloyds TSB and The Royal Bank of Scotland – set up CGE Power with the intention of buying around 10–14GW of distressed UK power assets, following a “bank-friendly” model that would see full recovery of debt in the plants owned by the banks.

But the executive, from a rival asset ac

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