EDF invests in new-generation power stations

EDF, the German-owned energy company, has announced plans to invest in four new nuclear power plants after the Government’s decision to press ahead with plans for new-generation power stations.

Rival energy companies Centria, owner of British Gas, and E.ON are also expected to invest in the new stations.

The Government announced it planned to go ahead with nuclear power stations yesterday (January 10) and it hopes to have the first plants operational by 2017. The move has been criticised by environmental groups, who are concerned that nuclear power will only reduce carbon emissions by 4%. Greenpeace says the reductions in emissions will be “too little, too late”.

Vincent De Rivaz, chief executive of EDF Energy, says: “We expect a wide spectrum of support for the Government because the decision reflects the long-term concerns of all energy users.”

De Rivaz says that reports of an impending energy crisis mean the plans are a “positive” step towards meeting the country’s energy needs. “At a time when oil has touched $100 [£50] a barrel, these needs will not be met through increased dependence on imported gas,” he adds.

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