Gas and electricity giant Centrica is reported to be examining a £10 billion bid for nuclear power generator British Energy. British Gas owner Centrica hopes it can provide a “British solution” for the future of the energy provider, which last week confirmed it was in talks with potential suitors, the Sunday Times said. Among the possible bidders for British Energy (BE) – whose eight nuclear sites produce around one sixth of the UK’s electricity – are French nuclear giant EDF, Germany’s RWE and Spanish industrial group Iberdrola. The company is Britain’s main nuclear power provider and will play a major role in any development of the country’s nuclear power supply. Its current market capitalisation is £6.4 billion. Last week the Government announced it was considering selling its 36% stake in BE, with Centrica, understood to have been one of several companies contacted on behalf of ministers about the proposal. A spokesman for Centrica declined to comment about any proposed bid for BE. The group’s eight nuclear power stations are Dungeness B in Kent, Hartlepool, Heysham 1 and 2 in Lancashire, Hinkley Point B in Somerset, Hunterston B in Ayrshire, Sizewell B in Suffolk and Torness in East Lothian. Decommissioning dates for nuclear sites range between 2014 and 2035. BE also owns a coal-fired power station at Eggborough, East Yorkshire. Last year the Government sold a 25% stake in the company, raising £2.08 billion. Chancellor Alistair Darling said the money would go towards the Nuclear Liabilities Fund, which will help meet the cost of decommissioning the group’s nuclear power stations.

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