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Consultants: Regulation is bonanza for advisers

By Salamander Davoudi

Published: April 17 2008 14:46 | Last updated: April 17 2008 14:46

Five years ago Texas Utilities Corporation, the state utility, would have derided suggestions that a sale of the company would not get regulatory approval unless it bowed to environmentalists and abandon plans to build more coal-fired power plants. But this is exactly what happened last year.

Texas Corp was sold to a private-equity consortium for $32bn. But only after close consultations with the Environmental Defence Fund and the Natural Resources Defence Council that resulted in a pledge to scrap plans for eight plants.

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