Sunday, February 15, 2004
NAO report: The Nuclear Liabilities of British Energy plcThe UK's National Audit Office, which independently scrutinises public spending on behalf of Parliament, has produced a damning report which highlights the conflicts of interest, hidden costs and risks to the taxpayer/energy market that resulted from the way British Energy (and its associated nuclear liabilities) were privatised in 1996.
Responding to the National Audit Office Report into British Energy, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said:
"This report shows that British Energy continued to pay dividends that the company's performance could not justify. At the same time the DTI failed to realise the effect the new market for electricity would have on British Energy's profitability and the exposure of taxpayers to the company's nuclear liabilities.
Posted 1:26 pm by Matt Prescott