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City presses Centrica to cancel plans for building nuclear power plants

Guardian; 25/07/2011

Centrica, owners of British Gas, are being urged by the City to withdraw from a £4bn commitment to build new four UK nuclear power stations in partnership with EDF. Utilities analysts are concerned over soaring costs and delays at EDF's prototype reactor being built at Flamanville, France. Centrica's withdrawal would be a blow to EDF and the government, which is keen to replace the UK's ageing nuclear power stations. Vincent de Rivaz, the chief executive of EDF in Britain, has admitted the schedule for opening new plants in the UK by 2018 is slipping but denies this is a delay. He says the company is just 'taking stock'.

News Item details

Websites: http://www.guardian.co.uk

Keywords: Nuclear

Countries: UK -

Organisation: British Gas|Centrica

Subjects: Building, Banking, finance and investment, Policy and Governance, Economics, business and commerce, Transformation [Energy processing] (Conversion), Electricity generation, Electricity from nuclear fuel, Combined heat and power generation, Heat distribution, Power stations, Nuclear reactors