In reality, the British government was forced to sell its 35% stake in BEC.
Currently, nuclear power accounts for approximately 20% of Britain's total electricity consumption, but the majority of nuclear power plants are slated for decommissioning by 2030. Therefore, before then, new nuclear power plants will need to be built to replace them. This will require significant expenditure—estimated to exceed $30 billion!
Furthermore, the British government has long been committed to energy conservation and emissions reductions. While gradually reducing the number of coal-fired power plants in the country, nuclear power plants will still be needed to fill the energy gap.
Therefore, if BEC continues to hold a majority stake, it may be necessary to consider a plan for nuclear power plant replacement and budget accordingly.
After all, nuclear power plants cannot be built in a short period of time. While 2030 is still over 20 years away, it is important to understand that these plants are being decommissioned gradually, requiring planning for new plants three to five years from now.
Another issue involved is the site selection of nuclear power plants...
Because nuclear power plants require extensive cooling, it's common to see them built near the sea.
Of course, Britain, as an island nation, has no shortage of coastal locations—but the opinions of surrounding communities also need to be considered. Especially under systems like those in Europe and the United States, it's not uncommon for large-scale projects like nuclear power plant construction to take ten to twenty years to discuss.
Furthermore, while Britain has a long history of nuclear power plant construction, its current technology is no longer considered advanced. Currently, the only two options for new nuclear power plants are the Westinghouse AP1000 and Areva ERP.
Therefore, not only could selling British Energy Group's shares generate significant profits, but selling it to a large, powerful group would also facilitate future projects. Therefore, the British government has launched this tender for the sale of British Energy Group.
EDF is very enthusiastic about this. As the French government holds over 80% of its shares, acquiring BEC could expand its market share in the UK electricity industry and, more importantly, expand the market for Areva's ERP nuclear technology.
However, as Barron noted, the British government, while not completely without alternatives, does not want all of its nuclear power generation to be controlled by French companies. Therefore, they welcome and encourage the participation of United Energy.
Similarly, during this meeting, Brown also revealed to Barron that, according to the British government's opinion, even if EDF ultimately completes its acquisition of BEC, they would require at least two nuclear power plants to be operated by British companies.
However, two British companies, including United Energy, are currently competing for BEC's acquisition. The other is Centrica, the company they previously discussed, Britain's largest natural gas supplier and one of the world's largest utility companies.
This company is the product of the 1997 restructuring of the former British Gas Company. Prior to 1986, it was a state-owned monopoly, primarily supplying gas to residential, industrial, and chemical customers. However, Centrica has evolved beyond its core gas business to include power, financial, and telecommunications services.
BEG's share price is currently around £5.65 per share, with a market capitalization of approximately £9.05 billion.
EDF, United Energy, and Centrica will submit bids for BEG by the end of May, with BEG's board of directors ultimately deciding which offer to accept.
The decision to acquire BEG also marks United Energy's entry into the British electricity market.
United Energy already had a sizable power division. The former Unocal owned power plants in Southeast Asia, including Thailand, Indonesia, and Malaysia. Following the acquisition of Unocal, United Energy acquired a local power company, forming its power division.
However, their current operations are limited to certain Southeast Asian countries. United Energy Group now hopes to acquire British Energy Group, thereby acquiring its power generation and grid operations in the UK. This would be a stable and profitable public service.
...
The band played relaxing music, and people chatted quietly in the hall. From time to time, ladies and young women accepted the invitation and walked to the dance floor with their male companions.
This was a cocktail party hosted by the Duke of Westminster, who had specifically invited Barron, so he came here tonight as a way to relax.
"I heard your wife is pregnant again. Congratulations, Barron."
"Thank you, William. I also want to congratulate you. It's so wonderful that you and Catherine are back together."
Prince William also attended the cocktail party, bringing Catherine with him.
Rumors of their reunion had been circulating at the end of last year, and they had publicly participated in some events together.
At the time, Barron and his family were in America, so this was the first time Barron had met them since their reunion. Cather, dressed in a nude tulle dress, looked exceptionally beautiful.
She simply smiled, remaining silent. William, speaking joyfully to Barron, said,
"Yes, we had a minor issue before, but it's resolved now. I'm certain she's the one I want to be with."
"I'm truly happy for you, Cather. You look beautiful today, but it's a shame Bonnie isn't in a good mood to be out these days... She needs extra care at this time of year, and it's a bit too cold in London this winter."
Cather nodded gracefully.
"That's only right, Your Highness. I hope to visit her sometime. We had a wonderful chat."
"That's wonderful. I'm sure she'll be delighted."
...
This kind of occasion is inherently social, and with Barron's status, it's inevitable that many people would approach him to chat.
After dealing with a few people, Barron went to the second-floor balcony, ready to relax and unwind for a while.
Just as he was about to glance downstairs, he caught a glimpse of a familiar figure entering the second-floor restroom—it seemed the first floor was too crowded.
Continuing his gaze, Barron spotted William chatting animatedly with several nobles.
"Ah... well, why are you here, Barron?"
Cather had just emerged from the restroom when Barron pulled her back inside.
Just as she screamed, the other man covered her mouth, but when she saw it was Barron, she lowered her voice nervously.
Barron closed the door and locked it.
"Long time no see, Cather..."
He pressed her against the wall, leaning close to her ear and whispering,
"I've missed you terribly lately, especially during that time..."
"Are you crazy, Barron?
What if someone finds out..." Cather was clearly genuinely worried, her voice as low as possible.
"So you'd better hurry up, dear."
"You, don't do this, Barron..."
As she was speaking, Barron pressed her shoulders down and made her kneel on the carpet...
"Um..."