Centrica abandons nuclear plans

Centrica has decided to pull out of the UK's nuclear new build programme and will not take part in the construction of up to four new reactors, the firm announced.

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Centrica: Nuclear deal 'not right' for us

Centrica has released a statement saying increasing costs and delays prompted the company to abandon plans to partner EDF in a UK nuclear rebuilding programme:

Since our initial investment, the anticipated project costs in new nuclear have increased and the construction timetable has extended by a number of years.

"These factors, in particular the lengthening time frame for a return on the capital invested in a project of this scale, have led us to conclude that participation is not right for Centrica and our shareholders.

– Sam Laidlaw, Chief Executive of Centrica

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