Proposed rescue plan for British Energy

Manufacturing News, Source : TheManufacturer.com
Published : 05 Nov 2002 9:40

British Energy has been offered a way out of its current predicament following a rival rescue package.

British Energy’s rival generators and suppliers have offered to buy electricity from the group. British Energy would have the opportunity to share future profits that occur through recovery in power prices, however the contracts would be struck at a small premium to prevailing market prices.

Innogy first suggested the plan to the DTI three weeks ago, but as the 29 November deadline for the Government’s current £650 million loan facility draws closer, British Energy and the DTI’s progress is moving slowly.

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