LYCOS RETRIEVER 
British Energy
built 656 days ago
By then, British Energy was attempting to extend into the power distribution field, paying £105 million to acquire Hyder's South Wales Electricity (SWALEC) retail energy supply division in 1999. That attempt, which included a failed bid to acquire London Electricity, was swiftly abandoned... and in 2000 the company sold off SWALEC for £210 million.
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British Energy is blaming failed negotiations with the state-owned British Nuclear Fuels to run its six Magnox reactors in return for a management fee. Details of those "terms which fell short of what BE requires" were not revealed.
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The Philadelphia Electric Co. and British Energy have formed a company named Amergen, whose purpose is to buy, at garage sale prices, and operate troubled U.S. nuclear reactors. Already, this company has successfully bid on the Three Mile Island-1 reactor in Pennsylvania; the Nine Mile Point-1 and –2 reactors in New York; the Clinton reactor in Illinois; and the Oyster Creek reactor in New Jersey. Amergen is ... considering buying the Vermont Yankee reactor. In each case, Amergen has offered only pennies on the dollar. It’s an approach that’s profitable for the nuclear utilities involved, since they want to get rid of their reactors, but that leaves ratepayers high and dry.
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Throughout this time, British Energy had been negotiating with Ontario Power Generation, which was under orders to reduce its grip on the province's power supply to 35 percent, to lease its Bruce Power nuclear facilities at Lake Huron. That agreement was signed in 2001, giving British Energy an additional eight nuclear plants--four of which were operational--with 6,200 MW of generating capacity, for a price of £1 billion. The company announced its intention to bring the four shuttered Bruce reactors back online, with the first two expected to be operational in 2002.
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British Energy, which produces 20pc of the country's power, is believed to want a two-year exemption from the climate change levy as well as a revaluation of the business rates it pays as part of a longer-term restructuring. The process will take several months as the Government needs to comply with EC European state aid regulations.
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British Energy is one-half of Amergen, which is seeking to buy up America’s unwanted nuclear reactors. The other half of Amergen is Philadelphia Electric—recipient of one of the highest nuclear-related fines in U.S. history when operators at its Peach Bottom nuclear complex were found sleeping and playing computer games on the job. Philadelphia Electric wants to merge with the troubled Unicom utility, most of whose reactors have been considered "problem plants" for years.
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