Nuclear generator British Energy is to join the Financial Times Stock Exchange (FTSE) top 100 companies this week.
British Energy chief executive Bill Coley said: “We are the largest generating company in the United Kingdom, providing 20% of the electricity for the country. Improvements in operating performance are beginning to show through. Our accomplishments have demonstrated to investors that we are on our way to becoming a world class energy company,” while finance director, Dr Stephen Billingham added: “Rising energy prices have helped the increase in British Energy’s share price. However, it also reflects confidence that investors have in our ability to improve reliability, increase output, and extend the lives of our nuclear power stations.”
British Energy was dropped from FTSE 100 in November 2002 after it ran into difficulties and had to ask the government to bail it out.
The company re-listed on the London Stock Exchange in January 2005 and the past year has seen its share value more than double to some £3.5 billion ($6 billion).