EDF 'open' to business energy alliances to drive nuclear redevelopment - 06/10/2009
Major energy supplier EDF has announced it will consider forming alliances within the energy industry in order to initiate nuclear redevelopment in the UK.
The company bought nuclear provider British Energy (BE) last year and has moved into a position to use its extensive European experience to build four European Pressurised Reactors in the UK, but the firm has been looking for ways to get rid of substantial accumulated debt.
Centrica, the parent company of British Gas, has already acquired a 20 per cent stake in BE from EDF and the company is now reportedly willing to relinquish 49 per cent of the acquisition in order to reduce its debt and start work on the new reactors.
Nuclear redevelopment forms a central part of the government's plan to ensure the future energy security of the UK and reduce its reliance on imported gas, oil and coal.
The government's intention is to develop a new generation of nuclear power stations alongside renewable energy projects.
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