British nuclear power generator announce losses

Troubled nuclear power generator British Energy announced losses of £4.3bn (€5.98bn) today after slashing the value of its power plants and warned it could yet fall into insolvency.

The company was forced to cut the book value of its eight UK nuclear plants by £3.6bn (€5bn) to around £800m (€1.1bn) and the Eggborough coal-fired station by £151m (€210m).