Power struggles
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Manufacturing News, Source : TheManufacturer.com
Published : 20 Nov 2002 11:00
TXU Europe was placed into administration yesterday after failing to pay for energy supplied by the Drax power station in October.
TXU has a 15 year contract to purchase 60 per cent of Drax’ energy output, but falling UK power prices mean it is committed to paying £28 per megawatt hour for electricity which commands only £16 per MWH in the marketplace.
Meanwhile, attempts to rescue British energy from the same fate continue, with nuclear reprocessing group BNFL offering a renegotiation of its contracts, to link the price of reprocessing to the price of electricity.
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