Thursday 25 September 2008

EDF buys British Energy

Taken from BBC.

French energy firm EDF has unveiled plans to build four new nuclear reactors in the UK after it agreed to buy British Energy in a £12.5bn deal.
Subject to shareholder and regulatory approval, EDF - 85% owned by the French government - will take over British Energy's eight UK nuclear power plants.
In addition, British Gas owner Centrica said it was in talks to take 25% of the power generated by the enlarged group.

British Energy power plants generate about one sixth of UK energy supply.

A chart showing the ownership of Britain's generating industry is shown below.