British Energy to write down assets

Troubled nuclear generator British Energy is to cut the value of its power stations by more than half, reports said yesterday.

The writedowns are expected tomorrow when the group unveils figures for a year in which it needed a stg£650 million Government loan for survival.

One-off charges in the region of stg£3 billion are forecast largely because a slump in power prices has hit the value of assets such as Sizewell B in Suffolk.