He was a key player in the privatisation of the power industry and has seen Powergen go from a creaking monopoly generator to an Anglo-American energy and services provider poised to become part of one of the biggest private-power businesses in the world.

Nick Baldwin: "In the utility industry, size matters."

Along the way he has moved Powergen into a range of new utility services including telephony, internet and gas supplies.

Tying the knot

In April this year Germany's E.ON AG announced it was in takeover talks with Powergen.

Nick says: "In the utility industry, size matters, to make big investments you have to have the balance sheet that lets you use capital quickly and seize opportunities as they arise. E.ON gives us that flexibility"

Nick is confident the firms will get the regulatory approval allowing Powergen to become part of E.ON by the New Year.

His job will be to make sure the deal goes through successfully and that the new company, with its combined skills and resources, exploits the new opportunities in the power sector.

"At the moment - I'm in a very challenging position with the takeover. I have to see that through and, at the same time, keep a focus on the business needs of our customers"

Now at the cross roads of becoming a far more international brand, Nick says that one of the challenges is to grow and shape the power market and to make the new company into a successful a brand as Powergen, a name familiar to 96% of the UK population.

On the markets

Over the past year, Powergen shares have risen strongly from a March 2000 low of �3.28 to over �7.

Powergen shares have performed well compared with competitor's shares

A feat made all the more remarkable when compared to some of its major competitors, like Scottish Power and National Grid, which have lost value over the same period.

Nick says: "Markets suffer from fashion, but we're a bedrock stock, we have to be resilient, take a long term view"

To see the full interview, click on the video button in the top right hand corner of this story.