The head of Centrica, Iain Conn, says the company would consider selling its 20 per cent stake in eight UK nuclear power stations.

“If someone came along and said, ‘We are really interested in it [the nuclear stake],’ we would consider it,” Conn told the Times.
Iain Conn of Centrica
However, the chief executive also cautioned that such a deal could face political opposition given that the most likely bidders would be Chinese firms. “There are very few buyers of nuclear assets acceptable to the government and EDF,” he added.

Conn already said in June he would consider divesting Centrica’s stake in the UK nuclear plants if he received the right offer.

In 2009 Centrica bought a 20 percent stake in EDF Energy, the British subsidiary of France’s EDF which operates Britain’s nuclear reactors. In 2013 Centrica pulled out of a project to build new nuclear power stations in Britain with EDF.

The admission came after Centrica’s share price plunged to its lowest level in 14 years last week. Traders were responding to the news that British Gas had lost 823,000 domestic energy supply accounts over the three months to the end of September.