SWALEC (South Wales Electricity) was an electricity supply and distribution company which was bought out in 1996 for £872m following the de-regulation of the electricity supply industry in the UK. The purchaser newly privatised company Welsh Water rebranded itself as Hyder. The business plan was to make significant logistical savings by combining the field activities of Electricity and Water operations by co-locating in a reduced suite of offices and operational depots.