Feb 3 Centrica Plc, owner of British
Gas, is set to scrap plans to build nuclear power stations in
Britain, the Financial Times reported on Sunday, citing one
person familiar with the company's plans.
Centrica has the option of taking a 20 percent stake in four
new reactors - two at Hinkley Point in Somerset and two at
Sizewell in Suffolk - in a partnership with France's state-owned
Senior management had concluded that the investment in new
nuclear power stations was not right for the company, amid
concerns about rising costs since the 2011 Fukushima disaster in
Japan, the FT reported.
Centrica instead would focus on investing in North America,
North Sea natural gas and Race Bank, a wind farm it plans to
build off the Norfolk coast, the FT reported.
According to the source, Centrica could write off the 200
million pounds ($314.89 million) it had spent as its share of
However, the company will retain its 20 per cent stake in
eight of Britain's existing nuclear power stations, the source
Centrica's shares closed at 350.2 pence on the London Stock
Exchange on Friday.