6 November 2002 – Innogy chairman Brian Count has dismissed suggestions that his company, one of the largest UK power suppliers, has made an offer to British Energy to buy power at above market rates.
Innogy is, however, willing to offer support to keep the electricity market running smoothly in the event of a failure at British Energy.
Press reports in recent days had referred to an offer enter into a fixed contract with British Energy to help the nuclear generator out of its current predicament, brought on by low wholesale electricity prices. Count said no specific offer of this nature had been made.
Innogy and other suppliers worked closely with the Department of Trade and energy regulator Ofgem when TXU was threatened with administration last month. Innogy is understood to have told the authorities that it would back similar arrangements if British Energy ran into further problems.