Centrica Threatens To Pull Out Of Nuclear Plant Plan-FT
First Published Sunday, 22nd April 2012 09:57 am - © 2012 Dow Jones
LONDON -(Dow Jones)- Centrica PLC (CNA.LN), the only U.K. company in the running to build a new generation of atomic power plants in the U.K., said it could scrap its plans because of uncertainty over the government's energy policy, the Financial Times reported Sunday.
"Nuclear power stations cost GBP6 billion each and we must know what the return is going to be on that kind of investment," a person close to the company told the Financial Times. "If we don't get the right answers, we won't proceed."
The government has enacted reforms to attract investment in low-carbon generation and provide support for nuclear plants, though it has not said how much support it will give, the newspaper reported.
U.K. nuclear plants are crucial for meeting carbon-reducing goals. A spokesman for the Department of Energy and Climate Change would not comment on Centrica.
Centrica spokesman Greg Wood said its position on new nuclear power plants was "unchanged", adding that much needed to be discussed before building the new plant at Hinkley Point.
By Jenny Gross, Dow Jones Newswires, +44 779 932 4778;