UK government bars Centrica’s bid for British Energy
According to an institutional shareholder in Centrica, the nuclear generator has been banned from making a single-handed bid for British Energy by the British government. Published reports say that the shareholder in question has raised concerns as to why EDF, which is the favored bidder, enjoys the overwhelming support of the UK government. ...
by Jason Drew August 31st, 2008
Utility firms refuse to sign energy deal to assist the poor
Following a refusal to sign up for a deal by the "big six" utility firms, a £1 billion fuel-poverty package sponsored by the UK government has gone awry. Prime Minister Gordon Brown's undersecretary of state with the Department of Business, Baroness Vadera, is said to be spearheading the effort. She held last-minute negotiations with top officials from UK's foreign utility firms.
by Jenson Brayshaw August 31st, 2008
Government in support of EDF takeover of British Energy
The energy minister expressed his inclination towards the take over of British Energy by EDF (Electricite de France) to the Financial Times. Mr. Malcolm Wick stated that according to the UK government, this will be the most sensible deal. His ...
by Jason Drew August 25th, 2008
BE capable of building nuclear plants on its own
Even though British Energy, the East Kilbride Scotland-based nuclear energy generation firm is under an uncertainty of a takeover, it is moving ahead with the plans of building new nuclear plants in England. Yesterday, Bill Coley, the chief executive of BE admitted that at the moment they do not have in-house
by Lynnette Adamson August 15th, 2008
Centrica would now try to lure British Energy with cash
Centrica seems to be keeping all options open for acquiring a stake in British Energy. British Energy is currently in talks with EDF for acquisition. In case EDF succeeds in acquiring British Energy, then Centrica plans to purchase a minority stake. However, in the event of failure of British Energy-EDF
by Lynnette Adamson August 11th, 2008
UK disfavours British Energy deal with Centrica
Any possibilities of Centrica merging with British Energy seem to be dimming with the UK government expressing its reservations about the merger. British Energy, a nuclear organisation is in merger talks with Centrica, that already owns British Gas. Centrica in a press statement, expressed its interest in merging with British
by Jenson Brayshaw August 5th, 2008
Centrica eyeing British Energy
Gas and electricity giant Centrica is said to be eyeing nuclear power company British Energy. British Energy has been in talks with several corporate for potential merger. Prominent contenders include Spain's Iberdrola, Germany's RWE and France's EDF. Last week EDF came close to sealing the deal when it made a cash
by Jason Drew August 4th, 2008
Centrica’s ₤992 million profit adds to fuel poverty
British Gas announced a 35% price hike in gas on Wednesday. All the consumer groups are protesting against this raise as they feel that the company is playing unfair because only last week Centrica, the parent company of BG announced their half-yearly financial report. As per that report, the company
by Alf Stephens August 3rd, 2008
Political pressure to actualize windfall tax
The UK government business secretary, John Hutton confirmed that in due course of time, the treasury is coming up with a proposal to inflict windfall tax on companies that produce energy. While talking to BBC radio, he also said that ...
by Alf Stephens August 1st, 2008
