British Energy seeks nuclear projects

13-02-2007

British Energy seeks nuclear projects
British Energy has called for potential business partners to submit proposals for new "nuclear generation projects" in Britain.

In the company's third quarter results statement, the UK's largest producer of electricity announced it believes the creation of further nuclear energy plants is "critical" to providing the country's energy.

The trading update also revealed a positive financial period for the company, benefited by higher electricity prices. Operating margins increased from £6.40 per Megawatt-hour (MWh) in the comparable period to £14 per MWh.

British Energy further announced that investment is expected to be between £250 and £300 million for the financial year ending 31st March 2007.

Bill Coley, chief executive officer of British Energy, said: "Construction of new nuclear power stations is critical to meeting the UK's security of supply and climate change objectives."

Mr Coley added: "Electricity is essential to continued economic growth, jobs and quality of life for the people of the UK today and into the future. British Energy can make a valuable contribution to the country through a new nuclear generation programme and, in the process, create more UK jobs and drive shareholder value."

However plans for more nuclear plants are likely to face opposition from environmental groups.


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