British Energy scraps build plans

British Energy has abandoned its proposals to build a new generation of nuclear power stations.

Just 18 months ago, the nuclear generator announced proposals to build seven new plants at a cost of £10bn.

But following publication of the company's annual results last week, in which the company announced record pre-tax losses of £4.3bn, chief executive Mike Alexander admitted the plans had been scrapped.

"I don't believe we should be thinking about a new generation of nuclear power stations if we are not making money on the ones we have got," he said.

His decision is also thought to have been influenced by this spring's Energy Review, which effectively rebuffed British Energy's proposals.