EDF 'could be forced to sell electricity to rival energy firms'
Published on : 03/12/2008
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Leading UK energy firm EDF could be forced to sell part of its power-generating capacity if it wants to takeover British Energy, according to reports.
The Times claims its proposed £12.5 billion acquisition of the nuclear generator is currently being monitored by the competition arm of the European Commission, with the deadline being extended until December 22nd.
It is reported that EDF may have to auction a specified level of the electricity generated by British Energy's power stations on the open market in order to gain approval to such a deal.
Under such an agreement, EDF's rival UK energy firms including Centrica, ScottishPower and Scottish & Southern Energy could buy-up power from British Energy.
Adair Turner, chairman of the committee on climate change, told Reuters earlier this week that plans to reduce the role of fossil fuels in energy production and cut greenhouse gases could result in up to 25 per cent and 37 per cent price increases in electricity and gas respectively for UK consumers.
