British Gas plc was an energy and home services provider in the United Kingdom. It was formed when the British Gas Corporation was

privatised Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

as a result of the

Gas Act 1986 The Gas Act 1986 (Chapter 44) created the framework for privatisation of the gas supply industry in Great Britain. This legislation would be replacing the British Gas Corporation (government or state ownership) with British Gas plc (private own ...

, instigated by the government of

Margaret Thatcher Margaret Hilda Thatcher, Baroness Thatcher (; 13 October 19258 April 2013) was Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the first female British prime ...

and superseding the Gas Act 1972.

History

The company was formed when the Conservative Government privatised the British Gas Corporation in December 1986, with its shares floated on the London stock market. To encourage individuals to become shareholders, the offer was intensely advertised with the "If you see Sid...Tell him!" campaign. The privatisation was criticised by Baron Gray of Contin who said it broke a key part of the Conservative's 1983 manifesto that the party would not simply replace one monopoly with another; at the time, British Gas was the only organisation that could supply gas to anyone in the country. In June 1991, chairman

Robert Evans Robert Evans (born Robert J. Shapera; June 29, 1930October 26, 2019) was an American film producer, studio executive, and actor, best known for his work on '' Rosemary's Baby'' (1968), ''Love Story'' (1970), ''The Godfather'' (1972), and ''Chi ...

sparked controversy by accepting a pay rise of 66%, ten times above the rate of inflation at the time. This took his salary from £222,000 to £370,000, a pay rise which was condemned by the Labour Party as "sheer unbridled greed". This followed allegations of greed against the organisation a month earlier, when it reported a 42% rise in pre tax profits.

References

{{Authority control Natural gas infrastructure in the United Kingdom Non-renewable resource companies established in 1986 1986 establishments in the United Kingdom