1 August, 2002 – Canada’s Bruce Power, a subsidiary of UK-based nuclear generator British Energy, has announced the early return of two nuclear reactors.
The announcement was made after dates for a regulator hearing for an amended license were received. The hearings will take place under the auspices of the Canadian Nuclear Safety Commission in December 2002 and February 2003. This means that the two units could be return three months earlier than previously expected, with the first possibly coming on stream in April 2003.
The units were mothballed in 1998 and will have cost British Energy some £160m ($250m) to bring back. Despite this, British Energy’s North American businesses have been performing well and any extra investment that improve revenues from that business division will most likely be viewed favourable by City analysts.