Business Services Industry
British Energy Shares Fall.
Knight Ridder/Tribune Business News, September, 2002
Evening Standard, London Knight Ridder/Tribune Business News
Sep. 16--Shares in British Energy fell by another fifth today to trade at a new low of 17 pence as investors, fearful that the nuclear generator could be put into administration, could not get out of the stock quick enough.
With six million shares dealt in brisk trading, British Energy stock was marked down a further 4 pence as accountants from Deloitte & Touche were sent into the company to get a better picture of its finances.
At the core of British Energy's woes is overcapacity in the UK electricity market, which has helped to send wholesale electricity prices to historic lows.
The company, which produces about a fifth of all UK electricity, made a UKpound 500...
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