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• Centrica confirms BE interest

  UK-based energy company Centrica has confirmed that it is in discussions with a "third party" with a view to taking a minority stake in UK nuclear generator British Energy (BE). The third party is thought to be EdF, whose takeover of BE collapsed last week. Posted Aug 05 2008, 11:06 AM by World Nuclear News Filed under: British Energy, Centrica

• What now for British Energy?

  British Energy (BE) rejected a revised takeover offer from Electricité de France (EdF) late last night. Matching announcements from both sides confirm that discussions continue. The French generator and supplier put in an offer of at least 680p per share in June, which was rejected by the BE board as too low. "None of the proposals put forward so far is above the share price at the close of business Friday 6 June," BE said at the time, indicating that it wanted at least 735p per share. BE's shares dropped slightly to 675p per share on opening this morning. EdF is keen to expand its operations into the UK and already has 5.5 million cutomers in the London area through its subsidiary EDF Energy. It is keen to build Areva EPR nuclear power reactors at BE's existing nuclear generation sites, but has kept its options open by purchasing land adjacent to the Hinkley Point and Wylfa sites. Many European utilities, including RWE, EOn, Iberdrola and Vattenfall were once linked to the BE sale. Posted Aug 01 2008, 06:21 AM by World Nuclear News Filed under: British Energy

• BE in 'advanced discussions'

  British Energy (BE) has confirmed it is engaged in "advanced discussions" in response to a new round of media interest in the future of the firm. BE owns eight power reactors and some of the UK's most promising sites for new build. Electricité de France (EdF) is widely held to be the only remaining bidder, and is expected to seal a takeover for over £11 billion ($21 billion) soon. The UK government would be pleased to see a significant ownership share remain in Britain, which has fuelled speculation that Centrica is involved in talks with BE and EdF to take a share of around 25%. Posted Jul 25 2008, 10:41 AM by World Nuclear News Filed under: British Energy, EDF

• BE performance, earnings down

  Technical problems at some of its nuclear reactors resulted in lower output and earnings for British Energy during the 2007-2008 financial year, despite overall operational improvements. Speculation continues about the future of the UK nuclear generator, currently up for sale. Posted Jun 19 2008, 09:57 AM by World Nuclear News Filed under: British Energy

• EdF bid too low, says British Energy

  British Energy (BE) said that although it had received a range of bid offers, "none of the proposals put forward so far is above the share price at the close of business on Friday 6 June." BE's shares had closed at 735 pence ($14.37) per share. In a statement, the company stated that "in current circumstances such proposals do not represent value for shareholders as they fail to take proper account of the current forward price of electricity and the value of the company's sites and people in the context of nuclear new build." It added, that "the board will continue to progress the opportunities available through an offer for the company or other partnering arrangements which maximise the value of British Energy's participation in nuclear new build." Electricité de France (EdF) is the only company to have made a recent offer, although its bid, priced between 680p and 700p ($13.30-$13.70) per share, is subject to conditions. Germany's RWE made an indicative cash offer of almost 700p ($13.70) per share earlier in 2008, but has yet to come back with a firm bid. BE said that "it expects further discussion with interested parties." Posted Jun 10 2008, 12:20 PM by World Nuclear News Filed under: British Energy, EDF

• Suez exits from bidding for British Energy

  French utility Suez announced that it has ended talks with British Energy (BE) about a potential offer for the UK company. Suez said, "As previously indicated, the completion of the merger with Gaz de France remains Suez's key priority. Accordingly, Suez confirms that, in its discussions regarding the future development of the nuclear energy sector in the UK, those relating to a potential offer for British Energy have now ceased." Suez added, "As a consequence of this statement, the City Code prohibits Suez from resuming discussions relating to a potential offer for British Energy before the conclusion of its merger with Gaz de France." Centrica of the UK, Electricite de France (EdF), Germany's RWE and Spain's Iberdrola are all reported to be interested in BE. Posted May 23 2008, 11:18 AM by World Nuclear News Filed under: British Energy, Suez

• British Energy confirms takeover proposals

  British Energy announced today that it had received "a range of proposals from several parties wishing to make a full offer for the company including the Nuclear Liabilities Fund," which represents the UK government's 35% stake. Posted May 16 2008, 07:39 AM by World Nuclear News Filed under: British Energy

• EdF buys potential UK sites

  EdF Energy, the UK business of Electricité de France (EdF), has confirmed to World Nuclear News its purchase of land in the UK. The plots are located next to the existing nuclear power generation sites of Wylfa, on the Welsh island of Anglesey, and Hinkley Point in Somerset, England. The company recognised that existing nuclear sites - or land next to them - would be the most feasible for new nuclear plants in the time-constrained UK build program. EdF is also closely linked with possible bids for control of British Energy and its existing nuclear sites. A spokeswoman for BE told WNN that 9 May did not represent an 'official deadline' for bids on BE, and that news on the company's future would be announced through stock market mechanisms in due course. Nevertheless, observers expect an announcement imminently. Posted May 12 2008, 09:56 AM by World Nuclear News Filed under: British Energy, EDF, UK

• BE's apprentices to set sail

  The company at the centre of new build in the UK, British Energy (BE), has signed a major contract to train engineers for current and future power stations. Posted May 09 2008, 12:00 PM by World Nuclear News Filed under: British Energy

• BE renews engineering and technical support contract

  British Energy has renewed a contract worth up to £20 million ($40 million) annually over five years for engineering and technical support to its nuclear power plants with a team of strategic partners. Posted May 02 2008, 11:07 AM by World Nuclear News Filed under: British Energy

• BE shares boosted by bid rumours

  Shares in British Energy (BE) have risen dramatically over the last month as speculation on takeover bids has built. Meanwhile BE reported nuclear output slightly down on last year, but a little ahead of market expectations. Posted Apr 10 2008, 12:07 PM by World Nuclear News Filed under: British Energy

• Report: EdF to bid for British Energy

  The board of Electricité de France has given the 'green light' to launch a takeover bid for British Energy (BE), according to La Tribune . The French newspaper attached a figure of £6.7 billion ($13 billion) to the potential move, based on British Energy's current share price. The news comes two weeks after reports in Die Welt that the German utility RWE could bid to take the UK government's 35.2% stake in BE. At the same time, BE made a formal notification that it was in negotiations over at least 1% of the business and the government said it was keeping ownership of its stake "under review." BE has been in discussions with many European utilities over potential partnerships for new nuclear build in the UK, which is a government priority. Posted Apr 04 2008, 09:35 AM by World Nuclear News Filed under: British Energy, EDF

• RWE linked to British Energy stake

  [Die Welt, 18 March] A source close to RWE's board of directors told German newspaper Die Welt on Sunday that it had given the 'green light' for the company to bid for a stake in British Energy. A price of €2.5 billion ($3.9 billion) was mentioned in connection with a 35.2% stake, equal to the British government's current holding. Yesterday, British Energy followed stock market rules by notifying shareholders within one working day that it was in official discussions with parties interested in at least 1% of the company. The UK company owns the most promising sites for nuclear new build in Britain, and has been in partnership discussions with many European utilities besides RWE. The UK government said recently it was keeping its ownership of the stake "under review." Posted Mar 18 2008, 08:23 AM by World Nuclear News Filed under: British Energy, RWE

• British Energy in talks with potential investors

  British Energy has acknowledged it is in talks regarding a takeover or merger of the company, as the UK government hired a financial advisor for its nuclear vision and said it is keeping its 35.2% stake in BE under review. Posted Mar 17 2008, 12:46 PM by World Nuclear News Filed under: British Energy

• British Energy expects AGRs to restart later this year

  Following investigations into an issue with corrosion of wire windings of boiler closure units at four of its Advanced Gas-cooled Reactors, British Energy said that all four units would be able to return to service by the end of 2008 after repairs. Posted Jan 18 2008, 06:19 AM by World Nuclear News Filed under: British Energy, Advanced Gas-cooled Reactors