About British Energy
British Energy, not to be confused with British Gas, was the largest electricity generation company in the UK by volume, until it was bought out by Electricite de France in 2009. Due to a drop in wholesale energy prices worldwide, British Energy experienced some pretty serious financial difficulties around 2002. They even resorted to seeking aid from the British government.
Following a number of restructuring moves in the form of acquisitions, part-sales and joint-ventures, almost all equity interest held by stockholders were eliminated. Some years late, in 2009, French energy giants, Electricite de France, decided to swoop in and strengthen their positioning within the UK energy markets by acquiring British Energy. The final trace of the British Energy brand was removed on 1st July 2011, when it was rebranded as a subsidiary to EDF Energy Nuclear Generation Limited.
What remains of the previous company now exists wholly under the EDF Energy name and has operated as such for quite some years. You can find out more about EDF Energy’s current position within the UK energy markets by clicking the button below:
British Energy plants
At the time of its acquisition, British Energy operated a total of 9 power stations. They were primarily concerned with Advanced Gas-cooled Reactor (AGR) plants; however, they did operate one coal and one Pressurized Water Reactor (PWR) plant. These plants were as follows:
British Energy had a generation arsenal of over 11,500 MW
- Dungeness B (AGR - 1110 MW)
- Eggborough (Coal - 1960 MW)
- Hartlepool (AGR - 1210 MW)
- Heysham 1 (AGR - 1150 MW)
- Heysham 2 (AGR - 1250 MW)
- Hinkley Point B (AGR - 1220 MW)
- Hunterston B (AGR - 1190 MW)
- Sizewell B (PWR - 1188 MW)
- Torness (AGR - 1250 MW)
Apart from Eggborough power station, which, after the acquisition by EDF Energy, became an independent company in April 2010, all of the above power stations are still operational under the EDF Energy name. These power stations compose a majority part of the EDF Energy generation business. The only other two power stations that they have under their name are ‘Cottam and West Burton A’ and ‘West Burton B CCGT’.
EDF Energy are, however, in the process of expanding their nuclear efforts by building two new nuclear power plants at Hinkley Point and Sizewell.
British Energy Shares
Wondering what happened to your British Energy shares? If you haven’t received any form of contact from them in 2008 while they were going through the process of acquisition, you should get in contact with Equiniti as soon as possible, you can contact them via the below information:
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According to EDF Energy, you shares will have been subject to a compulsory purchase of 74p per share. For those people who decided to hold onto their investment, you will be more concerned with Nuclear Power Notes, which are vouchers of continuing interest in the consequent structure of British Energy’s power plants under EDF Energy.
Nuclear Power Notes give you the potential to receive a cash-based payment at the end of the year instead of share-type investment. However, there has historically only been one cash payout made since the takeover. Between 2010 - 2016, not a single payment has been made on Nuclear Power Notes. In 2009, EDF Energy paid out 11.497164p.
If you did not receive your payment for the 2009 payout, you can contact Computershare on +44 (0) 870 707 1760 to request a Dividend Mandate Form.