Nuclear banker

27 November 2007 By George Hay Follow @gfhay

The UK’s nuclear operator should cash in with new nuclear power stations: it’s got the sites where they’ll be built. Sure, Gordon Brown has yet to give the green light. But poor operational performance at its older reactors shouldn’t obscure the fact that British Energy looks oversold.

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British Energy, the operator of the UK's nuclear reactors, today released details of four sites in the south of England that are likely to be used to build a new generation of nuclear power plants.

The sites, Sizewell in Suffolk, Dungeness in Kent, Hinkley in Somerset and Bradwell in Essex have been identified as suitable for nuclear construction, mainly as they are all near nuclear installations.

British Energy operates reactors on each of the sites except Bradwell, which is now run by the Nuclear Decommissioning Authority, where it owns adjacent land.

The company has suffered this year due to poor performance at its older nuclear power plants such as Hartlepool and Heysham I, which have experienced repeated shutdowns.

Shares in British Energy rose to 588p in May but have since fallen back. The share price this afternoon was 498p.

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