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Strong nuclear interest - British Energy

British nuclear industry - 'Broad' talks
British nuclear industry - 'Broad' talks

British Energy is talking to a broad range of potential partners to help build new nuclear power stations. The company made the announcement as it met market forecasts with a 44% rise in underlying annual earnings.

'The interest is far broader and far deeper than I would have expected,' chief executive Bill Coley told reporters.

British Energy is the country's biggest electrical power producer, capable of meeting about a fifth of its power needs, but its ageing nuclear plants have suffered a string of faults.

The firm received a big boost last week when the British government came out in support of building a new generation of nuclear power stations, as it looks to reduce its reliance on imported fuels and cut carbon emissions.

British Energy has invited potential partners to submit plans to build new plants on its land.

Coley declined to say how many parties it was talking to, or to name them. But he said they included firms with existing nuclear interests, which could include Germany's RWE and E.ON, and some looking to expand into the sector, which analysts said could include utility Centrica.

British Energy, which runs eight nuclear power stations and one coal-fired plant, said it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of £1.22 billion in the year ended March 31, as higher selling prices more than offset a fall in output.