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Image header Agence Europe
Europe Daily Bulletin No. 8293
Contents Publication in full By article 33 / 40
GENERAL NEWS / (eu) eu/competition

Commission awaits notification of aid for British Energy

Brussels, 09/09/2002 (Agence Europe) - The European Commission awaits notification from the United Kingdom before giving its stance on the legality of the financial aid that the British government plans to provide to the nuclear energy company, British Energy, under European legislation on State aid. British Energy, an 82% subsidiary of Bruce Power LP, provides one quarter of the United Kingdom's electricity and is currently on the edge of bankruptcy. In a press release, the British government points out that it was providing emergency aid of £410 million, valid until 27 September this year, while specifying that no commitment has been taken concerning aid beyond this date. In answer to questions on this initiative, Michael Tscherny, Commissioner Monti's spokesperson, pointed out that the Commission had not yet been informed of the project and has not, therefore, any comment to make. "Public administrations may intervene as long as they behave like private investors. It is not yet known whether this guarantee may be considered as State aid. We must wait and see for the details", he stated.

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