§ Dr. CableTo ask the Secretary of State for Trade and Industry what action she intends to take in the event that British Energy is unable to reach agreement with its creditors by 30 September.[129939]
§ Mr. TimmsBritish Energy continues to work on implementing its restructuring plan and the announcement on 11 September of its sale of Amergen was a further step in that process. But, British Energy640W still needs to work hard to implement the plan in full, and, as we have made clear since last year, the Government is prepared for administration should it fail.
§ Llew SmithTo ask the Secretary of State for Trade and Industry what changes in the time deadlines originally set for British Energy to sell off its North American assets in the restructuring plan have been made since the plan was announced; and what the reasons are for those changes. [130306]
§ Mr. TimmsWith regard to British Energy's 50 per cent. interest in its US joint venture, Amergen, I refer my hon. Friend to the statement made by my right hon. Friend the Secretary of State for Trade and Industry, on 3 June 2003,Official Report, column 3WS British Energy announced on 11 September that it had agreed the sale of its interest in Amergen.
British energy completed the sale of its interest in Brace Power within the deadline set out in its restructuring plan.