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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sprintcar who wrote (25130)	1/9/2003 5:46:51 PM
From: Taki	Read Replies (1) \| Respond to of 25711

I am looking BGY now .43, due to January 14th general meeting.Maybe make some $$.COMTEX) B: FRIENDS OF THE EARTH: Taxpayers face GBP3 Billion bail out f B: FRIENDS OF THE EARTH: Taxpayers face GBP3 Billion bail out for British Energy Jan 09, 2003 (M2 PRESSWIRE via COMTEX) -- The Department of Trade and Industry today announced new legislation which will allow the Government to transfer the costs incurred by British Energy in dealing with nuclear waste onto the tax payer [1]. British Energy is in financial crisis and has already received a GBP650 million emergency loan from the Government. The company is holding an extraordinary general meeting on Tuesday 14th January 2003. The Government's Bill will provide "parliamentary authority for Government to incur expenditure on British Energy or on acquiring British Energy companies or their assets" [2] as well as amending the Electricity Act 1989 and repealing Part II of the Act. It will mean the taxpayer is effectively providing a GBP3 billion bailout for British Energy. Sometime, this spring, the Government is due to publish another bill to load the taxpayer with almost GBP4 billion of liabilities from British Nuclear Fuels plc, Britain's other nuclear generator. All in all, the nuclear industry will be getting a GBP7 billion subsidy [3]. Commenting, Friends of the Earth nuclear campaigner Roger Higman said: "This Bill paves the way for British Energy to fob the costs of dealing with its nuclear waste onto the tax-payer. It is a GBP3 billion back-door payment to nuclear power. It shows yet again that nuclear power is a financial as well as an environmental disaster. The sooner we join Germany, Spain, Holland, Belgium and Sweden in phasing out nuclear power the better." Notes [1] The Electricity (Miscellaneous Provisions) Bill was published on Thursday 9th January 2003. Copies of the Bill will be available from www.publications.parliament.uk/pa/pabills.htm [2] See DTI News Release (P/2003/5) www.dti.gov.uk 4th

To: Sprintcar who wrote (25130)	1/10/2003 1:14:07 PM
From: Taki	Respond to of 25711

BGY see what happens next week.(COMTEX)B: BE given boost by government proposition B: BE given boost by government proposition Jan 10, 2003 (Datamonitor via COMTEX) -- The fortunes of British Energy, the ailing UK nuclear generator, have been given a boost by the UK government proposing new legislation to try to help the company. Under the proposed legislation the government will be able to provide assistance to British Energy in the form of spending cash on the group or buying the business or assets. Brian Wilson, the UK energy minister, claimed the legislation will enable the government to deal with any eventuality the nuclear group faces. The government's GBP650 million loan to British Energy is due for repayment in March, after it was extended due to the company's ongoing financial difficulties. New government money, available as a result of the new parliamentary bill, should secure reliable electricity supplies and safety measures are maintained. URL: datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon Copyright (C) 2003 Datamonitor. All rights reserved -0- KEYWORD: United Kingdom SUBJECT CODE: British Energy plc