| Abstract: | The takeovers that have occurred within the Regional Electricity Companies (RECs) since the privatization of the UK electricity industry are reviewed. The article describes the nature and scale of the changes that have occurred, and the policy considerations that have influenced the behaviour of the companies. A variety of emergent behaviour patterns among the companies are identified, which reflect apparent differences in the RECs' policy objectives; the mergers are then grouped on the basis of this behaviour. There is strong evidence of a learning process among the companies. |
