Energy: Foreign Takeover

On strategic grounds, the British government has made it clear that it will not stand in the way of a foreign-led takeover of British Energy. The government (British taxpayer) has a 35.2% stake in this business and shares have soared as speculation about a possible £10bn takeover has continued.

A spokeswoman for the Department for Business, Enterprise and Regulatory Reform (BERR) said (mysteriously) it was:

"not UK energy policy to encourage national champions"

and very patronisingly

"we are used to foreign ownership of energy suppliers in the UK"

She suggested that as EDF (France) and RWE (Germany) have both 'taken over' energy business in the UQ (aka UK) Ltd the British are used to it. This arrogance reveals the contempt by simply acting without asking or checking. It is simply business-expedient whatever the real British view and exemplifies an absolute loss of control in the very costly energy market.

Rising shares illustrates that a great deal of money is potentially at stake and the British public will lose out as someone else cashes in. The British government is once again selling out the British.

Gordon Brown is technically British, though a Scotsman (like Tony Blair), but is definitely NOT an Englishman. Cynically, Brown is just another Scotsman Selling England By The Pound.

The government is willing to consider a sale of all (or part of) its stake in British Energy, but is thought to be concerned about too much control over the Nuclear Future of UQ (aka UK) Ltd nuclear power being concentrated in a few companies (EDF and RWE) none of which are British, but operate in Britain.

It's known as being (potentially)
held to ransom

After the government gave the go-ahead for new plants in January, partnerships or joint ventures to build new reactors had been discussed by British Energy (Understanding nuclear) and several power firms. British Energy runs most of the UK's nuclear power stations and all but one will be closed by 2020. Land earmarked for new nuclear sites is also owned by British Energy. The government has emphasised that its principal concern is to ensure that new nuclear sites are built swiftly. Each will cost around £2.8bn to build.

Most of the nuclear power industry is sold off to foreign companies who will build power stations on British soil. It will expose the British to the extreme dangers and Madness Of Nuclear Power.

The government's Shareholder Executive has appointed UBS to handle the sale of its 35.2% stake in British Energy.

Beware

Fabian Society
Fabian Society - Influence on Labour Government
Blair and Fabian Society (2003). Part 1
Blair and Fabian Society (2003). Part 2
Blair and Clause IV
Reformism
Reformism and the Labour Party
The Project