British Energy discuss financing for new nuclear projects

30 March 2005 – The UK could see resurgence in nuclear power after it was disclosed that British Energy is discussing finance arrangements for a possible building programme after the next general election.

The Sunday Business reported that dialogue had taken place with the support of the Treasury, which is considering a range of financial incentives to attract private investment.

General consensus is that the finance will have to come from the private sector as British Energy does not have the resources and the government would be hesitant to use public funds on such a contentious project.

British Energy, banned from operating a new station until 2010 under a settlement with the EU, recently replaced its chief executive with William Coley, an American nuclear power expert.