Centrica in £10bn bid to control nuclear power plants

Monday, April 7, 2008

British Gas owners Centrica may join a £10billion consortium vying to control the UK's nuclear power plants.

Centrica hopes to lead a continental group bidding for British Energy, which runs all of the UK's nuke sites.

Centrica intended a takeover on its own but is believed to lack the cash.

Now it has been asked to join the Euro consortium, led by French power firm EDF and Germany's RWE.

Centrica lacks experience in the industry, whereas EDF runs 19 of France's nuclear sites, providing 80 per cent of the country's power.

It is a factor that may encourage the UK Government - which has a 35 per cent holding in British Energy - to accept an EDF-led buyout.

British Energy's eight nuke sites 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.

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