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British Government to keep special share in British Energy

While there was always speculation that some kind of behind the scenes deal had been done to smooth the takeover of British Energy by EDF it seems that the government were working feverishly to assure they had a say in the future sale of any UK nuclear reactors. As you might have expected it seems that the government has retained its special share which allows the authorities to veto any future sale of British Energy UK assets. So what does this mean in practice?

In practice this means that EDF is in this for the longer term and not to make a quick buck at the expense of the UK taxpayer. It also means that the government will also have more of a say about the future movement of UK nuclear reactors which will form the basis of the UK's future energy policy if the authorities get their wish. While there has been no mention of price restrictions or the practice of selling energy overseas before fulfilling the needs of the UK market, this an area for the regulator to become more involved in.

Initially it had looked as though the government had cast aside British Energy to fend for itself but that is not the case in practice.

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