Centrica invests in EDF's UK nuclear business

UK utility Centrica has bought a stake in EDF's newly-acquired nuclear business in the UK.

Centrica will take a 20% interest in EDF's British Energy business for £2.3 billion ($3.5 billion), offtaking 20% of the power generated by BE's eight nuclear stations. EDF will provide Centrica with an additional 18 Terawatt hours of power at market prices over five years from 2011 as part of the deal. EDF will still operate British Energy, with Centrica having board representation and some governance rights.

As part of the agreement, EDF will take control of Centrica's 51% stake in Belgian

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