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NucNet latest: British Energy confirms talks on possible takeover or merger |
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Tuesday, 18 March 2008 |
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British Energy, the UK’s biggest nuclear energy producer, has confirmed it is holding talks about a possible takeover or merger.
The company said today it is in discussions with interested parties “in the context of its future and its plans to take a pivotal role in any new nuclear programme in the UK”.
“These discussions could lead to a business combination or an offer for the company, although there can be no certainty that any offer will be
made,” a statement said.
British Energy said it had issued the statement in response to speculation in the press. ‘The Financial Times’ said at the weekend that the government is considering selling its 36% stake in the group.
The newspaper said officials from the Department for Business, Enterprise and Regulatory Reform had approached energy suppliers including British Gas owner Centrica and EDF of France to see if they were interested in taking on the government’s stake in the company.
British Energy’s eight nuclear plants have a combined capacity of almost 10,000 megawatts and produce around one sixth of the UK’s electricity.
As Britain’s largest nuclear power provider, British Energy could play a major role in any development of the country’s nuclear power supply.
The eight plants are: Dungeness B in Kent, Hartlepool, Heysham-1 and -2 in Lancashire, Hinkley Point B in Somerset, Hunterston B in Ayrshire, Sizewell B in Suffolk and Torness in East Lothian.
In January 2008 the British government gave the go-ahead for the possible construction of a new generation of nuclear power plants in the UK.
Energy Secretary John Hutton said he would invite energy companies to bring forward plans to build and operate new nuclear power plants.
In response, British Energy said all its sites across the UK have potential for replacement nuclear and there is suitable land at all locations. The company has also said it intends to announce proposals for new-build this month.
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