Future looks brighter for Dungeness workers....24 September 2002

Contributed by localrags on Nov 11, 2002 - 10:32 AM

British Energy, who operate the Dungeness Power Staion, is hoping to avoid administration by extending a deadline for repaying £410 million emergency loan made by Government.

It is thought the power company is about to agree a three-month extension to the loan . This should be enough breathing space to negotiate cost-saving deals which could ensure its long-term viability.

British Energy executives will meet Patricia Hewitt, the Trade and Industry Secretary, this week.

An announcement must be made by Friday, when the loan deal expires.

Robin Jeffrey, the chief executive, is hoping to reduce the £300 million annual costs of reprocessing fuel through BNFL, the government-owned nuclear fuels company.

In return for a processing contract BNFL could be given an equity stake in British Energy.