Centrica has confirmed it is in discussions with a third party with a view to Centrica taking a minority ownership position in British Energy, subject to various conditions, including this third party successfully acquiring British Energy and receipt of regulatory clearances.

In the event that the third party does not proceed with an offer for British Energy, or Centrica's discussions with the third party do not result in an agreement, Centrica may consider a number of other alternatives with respect to British Energy.

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These alternatives could include proposing to British Energy: long term power off take arrangements, Centrica participating in British Energy's potential new nuclear partnerships or a possible merger of Centrica with British Energy, only if terms could be agreed and if all parties are fully supportive.

The company said: "Centrica is not in discussions with British Energy with respect to such alternatives and accordingly, for clarificatory purposes, there can be no certainty that an offer for British Energy will be made nor as to the terms of any such offer."

(CD/JM)