24th September 2008
The Government has welcomed the purchase of British Energy by French firm EDF as "indispensable" to the UK's long term energy security.
State-owned EDF agreed a £12.5 billion deal to buy the company, which operates eight UK nuclear power stations.
Business secretary John Hutton said the ambition of the Government - which owns a 36% stake in British Energy - is to "accelerate" the building of new nuclear power stations and hailed the move as one of the largest direct foreign investments ever made in the UK.
The French utility company, which already supplies 5 million UK customers, now has plans to build another four nuclear reactors, the first of which is set to begin production in 2017.
The Department for Business, Enterprise and Regulatory Reform estimates these could generate 13% of UK power by the 2020s, and save 14 million tonnes of CO2 a year.
Prime Minister Gordon Brown said: "New nuclear is becoming a reality.
"The deal is good for the taxpayer and a significant step towards the construction of a new generation of nuclear stations to power the country.
"Nuclear is clean, secure and affordable; its expansion is crucial for Britain's long term energy security, as we reduce our oil dependence and move towards a low carbon future."
IMAGEPA
Government backs nuclear future for energy
State-owned EDF agreed a £12.5 billion deal to buy the company, which operates eight UK nuclear power stations.
Business secretary John Hutton said the ambition of the Government - which owns a 36% stake in British Energy - is to "accelerate" the building of new nuclear power stations and hailed the move as one of the largest direct foreign investments ever made in the UK.
The French utility company, which already supplies 5 million UK customers, now has plans to build another four nuclear reactors, the first of which is set to begin production in 2017.
The Department for Business, Enterprise and Regulatory Reform estimates these could generate 13% of UK power by the 2020s, and save 14 million tonnes of CO2 a year.
Prime Minister Gordon Brown said: "New nuclear is becoming a reality.
"The deal is good for the taxpayer and a significant step towards the construction of a new generation of nuclear stations to power the country.
"Nuclear is clean, secure and affordable; its expansion is crucial for Britain's long term energy security, as we reduce our oil dependence and move towards a low carbon future."
IMAGEPA
Tags: Green
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