The restructuring of British Energy : forty-third report of session 2006-07 : report, together with formal minutes, oral and written evidence
Author(s)
Bibliographic Information
The restructuring of British Energy : forty-third report of session 2006-07 : report, together with formal minutes, oral and written evidence
（HC, 892）
Stationery Office, 2007
Available at / 1 libraries
-
No Libraries matched.
- Remove all filters.
Note
"Ordered by the House of Commons to be printed 9 July 2007"
"Incorporating HC 1025-i, session 2005-06"
Description and Table of Contents
Description
British Energy is the UK's largest electricity generating company, with an annual turnover of GBP 2.6 billion in 2005-06. Its eight nuclear power stations generate approximately one fifth of the electricity used in England and Wales and half of that used in Scotland. Its privatisation in 1996 raised GBP 2.1 billion for the Government, and British Energy took responsibility for all its nuclear liabilities, including the disposal of spent nuclear fuels and the decommissioning of power stations.Following on from the NAO report on this topic (HCP 943, session 2006-07; ISBN 9780102937275) published in March 2006, the Committee's report examines the role of the Department of Trade and Industry in the financial restructuring of the company, and how it is monitoring and influencing the company's performance and managing the nuclear liabilities taken on by the taxpayer. The report finds that, as a result of the its restructuring, the taxpayer has been left to underwrite a large and uncertain liability, recently valued at GBP 5.3 billion, a figure that may well rise further.
The Department spent GBP 29 million on advisers during the restructuring, but of the four main firms it employed only one was appointed by competition.
by "Nielsen BookData"
