nuclear-news

British energy company pulling back from nuclear energy investment

Centrica says nuclear ‘no done deal’ as reveals £1bn profits, Centrica, the owner of British Gas, has scaled back its investment in new nuclear power, describing its plans to invest in the UK’s first two stations with EDF as “no done deal”…..Telegraph UK 28 July 11“………concerns have been growing about the risks of new nuclear power in the UK since EDF revealed that its flagship plant in Flamanville, north-west France, has suffered two fatal accidents this year and seen costs double to €6bn (£5.3bn). This means it will begin operating six years after the original start date. The nuclear meltdown at Fukushima in Japan will also to increase safety costs.

“EDF had advised us that Flamanville was having problems,” said Sam Laidlaw, chief executive of Centrica. “The reality is that post the news about Flamanville and Fukushima we are clearly going to have some changes. People have been focusing a little more on the optionality since then. It’s by no means a done deal. …..http://www.telegraph.co.uk/finance/newsbysector/energy/8669145/Centrica-says-nuclear-no-done-deal-as-reveals-1bn-profits.html

July 29, 2011 - Posted by Christina Macpherson | general