Feeds

French bid for Brit nuclear sector back on

Pension funds' gripes sweetened

The Power of One Infographic

The UK nuclear industry is back on track for a future hand in hand with that of France, according to reports. British institutional investors, which had previously blocked French nuke giant EDF's bid for Blighty's nuclear plants, are now thought to be on side with the acquisition.

The Financial Times this morning says that "people with knowledge of the deal" believe that EDF has now sweetened its bid for British Energy - the mostly private-sector owner of the UK's viable nuclear power sites - to the point where Invesco Perpetual will cease to oppose the buy. Invesco holds 15 per cent of British Energy, and its desire for better terms has previously stymied EDF's takeover.

The rosier prospects for the buy will be warmly welcomed by the British government, boxed in by its pledges to cut UK carbon emissions and yet keep the lights on. The best hope for new nuclear build is seen as EDF's money and solid expertise (most French electricity is nuclear) allied to British Energy's sites, already cleared for nuclear use. Only one British nuke station, at Sizewell, is at all modern and the UK's expertise in the area has lagged correspondingly.

EDF believes it can make a lot of money in Britain, especially with the prospect of fossil generators being compelled to pay for their carbon emissions or capture and sequester them - leaving nuclear as the cheapest kind of electricity, even without further rises in the price of gas. Nuclear juice, meanwhile, should stay stable in price even if uranium costs soar - fuel is only a small proportion of what the consumer pays, with most of the money going on building, running and decommissioning.

The FT indicates that there had been rumours of EDF moving instead into the American market, but it seems now that the British deal will move ahead. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
Sit back down, Julian Assange™, you're not going anywhere just yet
Swedish court refuses to withdraw arrest warrant
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
MPs wave through Blighty's 'EMERGENCY' surveillance laws
Only 49 politcos voted against DRIP bill
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Delaware pair nabbed for getting saucy atop Mexican eatery
Burrito meets soft taco in alleged rooftop romp outrage
British cops cuff 660 suspected paedophiles
Arrests people allegedly accessing child abuse images online
LightSquared backer sues FCC over spectrum shindy
Why, we might as well have been buying AIR
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.