EDF Completes British Energy Purchase

EDF has completed its £12.5billion purchase of British Energy (BE), accelerating the likely construction of new nuclear power plants in the UK.

The sale was given clearance by the EU last month and gives EDF control of eight of the country's 10 operational nuclear sites.

UK energy minister Ed Miliband called the news “an important step on the path to new nuclear power” adding “In addition to the important investment made by EDF, our ambition is to have more than one firm building and operating nuclear power stations in the UK...There are strong signals of interest in this from the power industry and we will continue to work with stakeholders to bring about the conditions that can make that possible.”

EDF plans to build four new reactors in the UK, with the first up and running by 2017.

UK business secretary Peter Mandelson said: “Completion of this takeover represents not only a £12.5billion investment in the UK by EDF but, in opening the way for new nuclear build, should provide many billions of pounds more opportunity for the UK supply chain.”