Centrica Abandons U.K. Nuclear Projects
Posted on February 08, 2013 at 10:55 AM EST
GALWAY, IRELAND--February 8, 2013 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Centrica plc (OTC:CPYYY) (Windsor, England) has abandoned plans to build new nuclear plants in the U.K. with French partner, Electricite de France S.A. (EPA:EDF) (EDF) (Paris, France), blaming concerns over costs and project delays. The company, which owns British Gas, had the option to own a 20% stake in four reactors, and its decision to pull out leaves EDF without a partner to shoulder the financial risk.