Alarm raised on EDF takeover of British Energy

28 July 2008 - Rival companies and customers have warned that EDF's planned takeover of British Energy risks creating serious competition problems in the UK electricity market, reports the Financial Times. A deal that values British Energy's equity at about £12.5bn ($24.8bn) could be announced this week. It is backed by the UK government, which controls 35 per cent of the company and wants to get the industry moving on building more nuclear power stations. However, electricity companies and industrial users have called for radical changes to protect competitors and consumers. The business and enterprise select committee makes the same call today in its report on energy markets. Professor Dieter Helm, an energy expert at Oxford University, said: "An EDF deal would mean "essentially handing the British nuclear industry to the... [read full story]