Blogposts tagged 'British Energy'

It's usually poor form to laugh at another's misfortunes, but in this case I feel a slight chortle is more than justified. EDF's bid to takeover British Energy - the semi-state owned company charged with looking after the UK's nuclear power stations - has been kicked out, throwing a spanner of cosmic proportions into our government's plans for a new atomic age. Oops, butterfingers.

Today is the deadline for bids to takeover British Energy, the country's beleaguered nuclear operator. Leading the pack of foreign companies hoping to get their hands on BE's nuclear sites is the French government owned Electricité de France, or EDF as they prefer to be known on this side of the Channel.

Now, EDF is hoping to bag large tranches of UK land at nuclear sites - not for BE's financial integrity or for operational performance, but to add the UK to its nuclear catalogue. Put simply, they reckon building a new reactor on British soil will pull punters into their atomic showroom.

More bad news for British Energy (BE), the UK's biggest nuclear electricity generator (when their creaking fleet of reactors actually happen to produce any power, that is). They've discovered that faults unearthed at two of their reactors pose more of a "complex issue" than previously thought and so the reactors are going to be offline for the foreseeable future. This news sent BE's shares tumbling by 10 per cent. Or as The Independent put it shares "went into meltdown".

A few weeks back BE announced that during a routine inspection "an issue related to a wire winding" was found in the boiler of the reactor unit at Hartlepool nuclear power station. This was rather unexpected and BE, as a Daniel come to judgement, took what it described as "a conservative decision" and shut the reactor at Hartlepool, as well as its sister unit at Heysham 1. Just as a precaution. Things were expected to be ship shape and bristol fashion very soon, so don't panic Mr Mainwaring. Indeed.