By Malcolm E. Falkus
This non-technical, readable publication strains the historical past of North Thames gasoline from the nationalization of the gasoline in 1949 until eventually privatization in 1986, a interval which observed the switch shape a place within the Fifties the place its survival used to be threatened.
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Additional resources for Always under Pressure: A History of North Thames Gas since 1949
It meant that the gas industry would have to pay more for its coal than virtually every other class of industrial consumer. Despite strenuous attempts by Milne-Watson and Burns to persuade the National Coal Board to revise its decision, the new charges were maintained. Burns wrote to MilneWatson, 'the National Coal Board are completely unmoved. ' Thus, between December 1951 and September 1961 pithead coal prices to the gas industry were raised by 70 per cent, while to general industrial consumers the increase was 63 per cent and to the electricity industry only 45 per cent.
In fact, when in the following year the large new retort house was opened at Bromley, bringing capacity there to nearly 40 m. cu ft gas/day and establishing that works as the Board's second largest (and the third largest in the country), this was to be the last additional gas-making plant carbonising traditional coals installed by North Thames. After this additions to carbonising capacity were simply replacements for obsolete plant. The early 1950s also saw an extensive scheme for the complete reconstruction of the Products Works at Beckton, and many improvements were made in gas distribution, welfare facilities and the transport fleet.
Compensation for municipal owners was naturally calculated on a different basis, while the many private companies whose shares were not actively quoted had also to be dealt with differently. But for Gas Light & Coke Company shareholders the terms of compensation were relatively straightforward. They were paid compensation during 1949 and 1950 in 3 per cent Gas Stock at an amount which was not ungenerous, although a severe financial crisis in September 1949 raised interest rates and caused a sharp decline in the value of the stock.
Always under Pressure: A History of North Thames Gas since 1949 by Malcolm E. Falkus