British Energy profits hit by stoppages

Source: Energy Digital

Date :16/08/2007 09:00:45

British Energy has seen its profits fall for the first quarter of 2007, following stoppages at its Hinkley Point and Hunterston stations.

The nuclear energy firm saw net profits drop to £91 million in the three months to July 1, down from £146 million for the same period last year.

Unplanned losses of nuclear energy hit nearly 20 percent, up 7 percent from twelve months ago.

"We continue to work hard to deliver reliable output from Hinkley point B and Hunterston B, while seeking to maintain the performance seen across the fleet for the rest of the year," said Bill Coley, chief executive of British Energy.

While both stations are in service after outages earlier this year, they are running below full capacity.

By March 2008, the firm will decide whether to extend the life of the two stations.

The results come in the context of renewed interest in nuclear energy, as the UK government examined whether to build new plants.

The government is currently running a consultation on the future of nuclear power, and whether firms can invest in new nuclear energy plants.

British Energy said it was "well placed to play an important role in any new build as we have skills, experience and sites that are good candidates for any new construction".

The firm is in talks with several parties about developing such plans and has started looking at the suitability of existing sites for new projects.

August 16 2007