Monday, February 04, 2013 6:15 am
Centrica ends plan to build UK nuclear plants
The Associated Press
Centrica said in a statement Monday that pre-development costs were approaching a cap of 1 billion pounds, ($1.6 billion) and that a detailed assessment convinced the company not to proceed with the project.
The move comes four years after Centrica struck a 2.3 billion pound deal with Electricite de France SA (EDF) to take a stake in EDF's nuclear business in Britain.
Centrica said its 20 percent interest in the eight existing nuclear power stations in Britain is unaffected by Monday's decision.