Centrica, owners of British Gas, still hopes to reach a deal with French power group EDF to carve out the future of British Energy ahead of Friday’s deadline for submitting bids for the UK’s main nuclear energy producer, it emerged today. It is understood that EDF will go ahead and submit, on its own, an all-cash bid for BE that would value the once-stricken company at between 600 and 650p a share. The government is selling its 35% stake, with several other big European utilities expected to submit offers. Centrica, which refused to comment, would end up with no equity in BE under the joint approach with EDF that is still being negotiated, but would gain access to some of the output from the eight existing nuclear power plants and new generation stations which could be built alongside in future.
Guardian 8th May 2008 more >>
The Conservatives stepped up the pressure on the government to issue a statement on the “surreptitious auction” of British Energy, by warning that the official silence on the nuclear generator’s sale ruled out cross-party consensus on energy security. Although British Energy has asked companies to submit bids by the end of Friday, the company and the government are willing to consider bids that come in after the deadline.
FT 8th May 2008 more >>
Iberdrola, the Spanish energy group, was understood last night to be putting the final touches to a bid for British Energy, the nuclear generator. Iberdrola, the owner of ScottishPower, is expected to submit an offer before a deadline set for tomorrow by Rothschild, the investment bank handling the sale. The board of EDF, the French state-controlled energy company, also met yesterday to give a green light to a solo bid for the company. Both companies are expected to submit initial bids of between 600p and 700p per share, valuing British Energy at more than £9.6 billion. Its shares closed up 16.5p at 734p yesterday. RWE, of Germany, is also a possible bidder, while Centrica, the British Gas owner, is still seeking a role, possibly as a junior partner. Centrica, which lacks its own power-generating capacity but cannot afford to bid alone, is eager to strike a long-term deal to buy power or secure access to one or more sites from the successful bidder.
Times 8th May 2008 more >>
Iran said yesterday that it is to present the international community with a new package of proposals aimed at breaking the diplomatic deadlock over the country’s nuclear programme.
Guardian 8th May 2008 more >>
IT WAS a straightforward question with an apparently straightforward answer – what responsibilities are devolved in relation to any decision to commission and locate a new nuclear power station in Scotland? But the question, by Mike Weir, the SNP MP for Angus, certainly touched a raw nerve on domestic policy north and south of the border. The confusion and debate it caused has been revealed in a freedom of information request.
Scotsman 8th May 2008 more >>
Presidential Determination: Proposed Agreement Between the Government of the United States of America and the Government of the Russian Federation for Cooperation in the Field of Peaceful Uses of Nuclear Energy.
eGov Monitor 7th May 2008 more >>
The European Commission and the International Atomic Energy Association (IAEA) said they have signed an agreement to strengthen their cooperation on nuclear energy. Commission president Jose Manuel Barroso met IAEA Director General Dr ElBaradei on Wednesday in Brussels to discuss strengthened cooperation, priority areas and organise regular high-level meetings.
Interactive Investor 7th May 2008 more >>