Robert Armour played a critical role in restructuring British Energy when it almost fell to its knees in 2002 and had to go cap in hand to the Government for funds. As the only senior British Energy executive to have stayed with the company throughout its turbulent 12-year history, Armour has become an indispensable right-hand man to British Energy chief executive Bill Coley and will join him at the negotiating table when they hammer out the details of how the company will operate with their new French owners. Although the European Commission may decide on December 22 to launch further investigations into the takeover amid competition concerns – a subject on which Armour refuses to speculate – it’s clear from his references to EDF as “we” rather than “they” that British Energy management already regards the deal as a fait accompli. The Scottish Government has so far refused to reconsider its tough stance on nuclear, but Armour says support for an independent review of its policy is growing among Scottish businesses, homeowners and key policymakers.
Scotland on Sunday 14th Dec 2008 more >>
ALEX Salmond yesterday came under pressure to ditch his opposition to nuclear energy after the SNP Government’s own financial experts urged a rethink. The First Minister’s Council of Economic Advisers is said to be split on the country’s energy strategy. Some believe nuclear power must be considered as part of a mix of energy sources.
Daily Express 16th Dec 2008 more >>
Centrica, owner of British Gas, lost 18.25p to 234p yesterday after the company announced a 91% take-up for its £2.2bn rights issue. The cash will fund Centrica’s purchase of a 25% stake in British Energy from EDF, once the French power group completes its proposed takeover of the British nuclear company. Centrica said the 3-for-8 cash call at 160p had been a success, but investors were nervous as underwriters began placing the unwanted 121m shares. Analysts also cautioned that the British Energy purchase was not a completely done deal. Killik & Co said: “There is a risk [Centrica] will fail in its ambition – the EDF purchase of British Energy has yet to gain regulatory clearance and the memorandum of understanding between EDF and Centrica is not legally binding, so EDF could still look elsewhere for a partner.”
Guardian 16th Dec 2008 more >>
The owner of British Gas is already planning to spend £3.1 billion buying a 25 per cent stake in British Energy from EDF, the French state-controlled energy group. On Monday, it said it had received a 91 per cent take-up from investors for a £2.2 billion rights issue to part fund the deal.
Times 16th Dec 2008 more >>
AN energy firm says it is pleased with the number of people who turned out to hear its plans for a new nuclear power plant. More than 240 people attended British Energy’s eight public meetings – including ones in West Mersea and Tollebsury – about building a new nuclear power station at Bradwell.
Colchester Gazette 14th Dec 2008 more >>
A Thurso Church of Scotland Minister is calling on the Scottish Government to end the uncertainty over what will happen to Intermediate Level Waste.
Aberdeen Press & Journal 15th Dec 2008 more >>
Vital spending on energy infrastructure such as power stations and gas storage sites is threatened by the financial crisis, which has hit the supply of investment funds, the industry regulator has warned. Alistair Buchanan, chief executive of Ofgem, told the Financial Times that energy companies were having to manage “some tremendous pressures”, including the rising cost of finance.
FT 16th Dec 2008 more >>
South Africa’s plans to boost its generating capacity have faltered after a decision by Eskom to scrap plans for a new nuclear power plant in the country.
Modern Power Systems 15th Dec 2008 more >>
The United Arab Emirates said on Monday it has agreed a draft pact with the United States for civilian nuclear cooperation, the first such deal between Washington and a Middle East nation.
Middle East Online 15th Dec 2008 more >>
Russian and U.S. officials on Monday met for talks, which Moscow’s negotiator said could open doors for a new deal in nuclear arms control with Washington’s next administration in 2009.
Reuters 15th Dec 2008 more >>
Scientists have found the first unequivocal evidence that the Arctic region is warming at a faster rate than the rest of the world at least a decade before it was predicted to happen. Climate-change researchers have found that air temperatures in the region are higher than would be normally expected during the autumn because the increased melting of the summer Arctic sea ice is accumulating heat in the ocean. The phenomenon, known as Arctic amplification, was not expected to be seen for at least another 10 or 15 years and the findings will further raise concerns that the Arctic has already passed the climatic tipping-point towards ice-free summers, beyond which it may not recover.
Independent 16th Dec 2008 more >>