Centrica given all clear for British Energy stake

UK competition regulator the Office of Fair Trading (OFT) has approved plans by Centrica to take a minority stake in EDF-owned nuclear generator British Energy. British Energy operates eight nuclear power stations in the UK.

Centrica will therefore purchase a 20% shareholding in Lake Acquisitions, the EDF subsidiary that owns British Energy, with EDF retaining the remaining 80%. Under the agreement, EDF and Centrica will have the right to take uncontracted power supply from the existing British Energy nuclear fleet in proportion to their respective shareholdings in Lake Acquisitions.

According to an OFT statement, its inquiry into the deal generated a large response from the energy industry, with respondents raising

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