Management

The company had five chairmen between 1896 and 1948:

• Lord Rathmore
• Joseph Bevan Braithwaite
• Sir Harry Renwick
• Sir Bernard E. Greenwell
• Sir Robert Renwick

The company management board in 1922 was composed of:^[3]

• Sir Harry Renwick (Chairman and Managing Director)
• Lord Gainford
• Sir Bernard E. Greenwell
• Sir Frederick Hall
• J. A. Hosker
• R. Percy Sellon

The company’s registered address was Moorgate Court, Moorgate Place, London EC2.^[3]

Power stations

The company initially built two power stations, one at City Road and one in Wandsworth.

Electricity supply

The business of the company increased to meet the rising demand for electricity. The following table summarises the growth of the company in terms of capacity of the plant, the electricity load, the amount of current sold, and the number of customers.^{[1][2][4][6][7][8][9][10][3][11][12]}

The growth in sales of electricity, in GWh, is shown on the following graphs.

Graphs are unavailable due to technical issues. There is more info on Phabricator and on MediaWiki.org.

Graphs are unavailable due to technical issues. There is more info on Phabricator and on MediaWiki.org.

Electricity use

Electricity was originally used for lighting but ‘power’ uses were soon established. The following table illustrates the quantities and changing patterns of use.^[7][4][9]

Financial statistics

The capital required to establish, build and operate the business was raised through the offer of shares. Capital expenditure was needed for the purchase of land, buildings, machinery, mains, transformers, meters, electrical instruments, legal costs, fixtures and furniture at the stations.^[1] The capital expenditure in 1896 and 1897, associated with the commissioning of the power stations at City Road and Wandsworth, amounted to:^[1]

Profits were made through the sale of electricity which provided an income for the Company and its shareholders. An example of the sums involved is shown in the table.^{[1][6][7][8][9]}

Shareholders dividends were paid throughout the operational life of the company. Dividends expressed as a percentage of the total capital raised in a given year were as shown, together with the average dividends paid by the London company electricity undertakings.^[6][7]

Expansion

The company expanded its operations, particularly in East London and into south Essex and Kent.

By 1913 the County of London Company was supplying the Metropolitan Boroughs of Bermondsey, Camberwell, Finsbury, Holborn, Lambeth, Southwark and Wandsworth; the Urban Districts of Merton and Morden, Romford, and Tilbury; and the Rural Districts of Croydon, Orsett and Tilbury.^[6]

To meet the requirements of the expanded supply area, capital expenditure on new plant and equipment was required, as shown on the table below.^[6][7]

Electricity supplies to further areas continued. By 1937 the Company was supplying electricity additionally to: the Metropolitan Boroughs of Barking, Beddington and Wallington, Dagenham, Mitcham, Reigate, Sutton and Cheam and Wimbledon; the Urban Districts of Banstead, Billericay, Brentwood, Carshalton, Caterham and Warlingham, Hornchurch, Thurrock, Wanstead and Woodford; and the Rural Districts of Epping, and Godstone.^[9]

The Company supplied users such as the South Metropolitan Electric Tramways and Lighting Company (from 1916, supplying 2,021.0 MWh in 1919); the South London Electric Supply Corporation (from 1917, supplying 5,340.4 MWh in 1923).^[8]

Between 1918 and 1936 the Company acquired 14 other electricity companies.^[13] It was able to consolidate development over a large area of south east England through its Kent Power Company subsidiary.^[13]

In 1920, the County of London Electric Supply Company applied for permission to build a power station at Creekmouth in Barking capable of expansion to 600 MW. To finance the construction the Company issued shares, there were offers in 1921 and 1922. The 1922 offer consisted of 500,000 six per cent cumulative preference shares and 500,000 ordinary shares.^[3] Barking A station was built, and was commissioned in 1925.^[5]

The County of London Company and three others in south and east London promoted the London Electricity (No. 1) Act 1925 (15 & 16 Geo. 5. c. lxii). The four companies were: the City of London Electric Lighting Company; the County of London Electric Supply Company Limited; the South London Electric Supply Corporation Limited; and the South Metropolitan Electric Light and Power Company Limited. They established a joint committee to specify how generating stations of each company were operated.^[14] The companies remained district electricity supply undertakings; although they were physically joined with interconnecting cables.^[14] The companies envisaged that power stations such as Barking would provide enough capacity for their electricity requirements. The Act required equal consideration for the interests of shareholders and consumers. Dividends to shareholders were limited to 7 percent per year and the funds that could be carried forward in the accounts were restricted. Profits above these conditions formed a ‘consumers’ benefit’ in the form of lower prices.^[14]

The company built Barking B power station which was commissioned in 1933.^[5]