British Energy slumps

3 September 2002

United Kingdom British Energy shares fell by over a third after it announced that it had taken another reactor out of service and was reviewing production forecasts after the unplanned shutdown. In total, British Energy shares have lost over 80% of their value in the last year. The company suffered as wholesale power prices fell by 30% over the last year.

The 600MWe Torness 1 reactor was taken out of service to investigate vibrations on a gas circulator. It was not clear when it would come back on-line.Torness 2 has been under repair since mid-May, when a gas circulator failed. British Energy has similar gas circulators at Heysham 2, and those operations were continuing as normal, but were under review.

Both of the company's Dungeness units are also out of commission for refuelling, repairs and maintenance.

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