§ The Secretary of State for Trade and Industry (Ms Patricia Hewitt)On 1 December 2003,Official Report, cols 50–51WS, I informed the House that, following a request from British Energy, I was temporarily increasing the maximum amount available to the company under the Government's credit facility to £275 million. The increase was subject to the condition that it was limited to the period prior to the expected receipt of the proceeds from the sale of the company's interest in Amergen, or 22 February 2004, if earlier, whereafter it would be reduced to £200 million.
This is the first opportunity I have had to inform the House that British Energy announced on 23 December it had completed, and received the proceeds from, the sale of its interest in Amergen. Accordingly, the maximum amount available to the company under the facility has been reduced back to £200 million. Subject to the conditions of the restructuring, the facility will continue to be available to the company while the restructuring is agreed.