Centrica enters nuclear sector

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} British Gas owner Centrica is diversifying its portfolio with a ┬ú2.3 billion deal to take a 20 percent stake in nuclear generator British Energy, which operates eight nuclear power plants in the UK.   British Energy is currently owned by French energy giant EDF, which completed its ┬ú12.5 billion takeover in January. EDF is the world's biggest operator of nuclear power stations.   The agreement is less than the ┬ú3.1 billion 25 percent stake the two companies agreed in principle last year, when the price of electricity was higher than it is now.   British Energy's eight existing power stations are Dungeness B, Hartlepool, Heysham 1, Heysham 2, Hinkley Point B, Hunterston B, Sizewell B and Torness, which together generate around 14 percent of the UK's domestic energy supply.   With the UK government committed to increase the amount of electricity generated by nuclear power, Centrica and EDF plan to build four new nuclear plants at Hinkley Point in Somerset and Sizewell in Suffolk.   "The deal should be positive for both customers and investors,ÔÇØ Centric said in a statement. ÔÇ£It lowers our exposure to energy price volatility."   The deal is subject to regulatory approval but Centrica said it did not anticipate any problems.   *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *