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18 February 2008 - British Energy has denied a report it is planning a £5.5bn ($10.8bn) break-up involving the creation of a new company to focus on building a new fleet of nuclear reactors.
The UK nuclear energy provider denied the report in the Times and told Thomson Financial it had no plans for a split.
British Energy is currently considering new nuclear development in the UK and is in discussions with over ten potential European partners about future joint ventures.
It is looking at four designs for its new reactors, with the best choice likely to be decided on cost and fuel efficiency.
An announcement on the partnerships is expected by the end of March, though chief executive Bill Coley said yesterday that there could be a delay.
British Energy, which generates a sixth of UK electricity, has already recruited Gareth Brett, the European director of the US power giant Entergy, to head its new UK reactor division and lead the group's efforts to form partnerships with utilities to build the new stations.
The Times report claimed that officials in London have expressed concern that British Energy's ownership of eight of the most desirable nuclear sites could distort the new UK reactor programme by giving it too much clout over the choice of sites and operators.
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