A £12.5 billion deal was struck between the French Company EDF and British Energy, Britain’s nuclear industry. The takeover promises to revolutionise the way electricity is produced in the UK.

The French State currently owns 84% of EDF shares, by eroding the competition in the power market, critics believe a further increase in energy prices will follow while others are concerned about EDF’s environmental record

The British Government, who owns 35% of British Energy, has welcomed their £4 billion share of the deal from the sale, stating that it is an important step towards cutting carbon emissions and renewing British power structure, which is becoming old and unstable as power plants age and retire from service.

Chairman of the House of Commons Trade and Industry Select Committee Peter Luff, MP, stated:

“We already have a gross lack of transparency in Britain’s wholesale electricity market,” he said. “Any deal between EDF and British Energy must contain robust safeguards to ensure there is proper long-term competition.”

Prime Minister Gordon Brown welcomed the deal by saying:

“Good value for the taxpayer and a significant step towards the construction of a new generation of nuclear stations”

He added:

“Nuclear is clean, secure and affordable. Its expansion is crucial for Britain’s long-term energy security, as we reduce our oil dependence and move towards a low-carbon future.”

While Nathan Argent, head of Greenpeace’s nuclear campaign, had a different opinion:

“Just yesterday Gordon Brown promised the UK a million green-collar jobs in the manufacturing sector, but his push for nuclear power has led to a deal which will benefit the French taxpayer and create French jobs. This sale will do nothing to tackle climate change or energy security. This is about turning the UK into a billboard for the French Government’s nuclear sales programme”.

British Energy promised to revolutionise the way electricity is produced in the UK.

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1. French to Control Britain’s Nuclear Industry…

   A £12.5 billion deal was struck between the French Company EDF and British Energy, Britain’s nuclear industry. The takeover promises to revolutionise the way electricity is produced in the UK….

   Trackback by Anonymous — October 3, 2008 @ 9:29 am

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