UK’s nuclear energy will cease to be under government control

The UK’s nuclear energy will shortly cease to come under government control.

Centrica (the energy company which owns British Gas) is buying 25% of British Energy, the nuclear generating plant, from EDF. The UK Government owns 35% of British Energy, which is worth according to the price that Centrica paid for its shares, around £4.3 billion. Having sold 25% to Centrica, EDF will now buy the UK Government’s 35%, giving EDF (which stands for Electricté de France) control of the UK‘s nuclear generating industry which is expected to be expanded greatly if the unimaginative Secretary of State John Hutton has his way.

The astonishing thing about this is that the Government is so willing to dispose of an industry which it thinks critical to our energy future, and see it disposed of into foreign hands. Continue reading