NUCLEAR ELECTRIC - 4 YEARS ON - RIGHT ON COURSE

In 1989, the Government withdrew the nuclear generation business from their ESI privatization programme. Nuclear Electric set out on the lon g road to proving that nuclear power in the UK can be commercially via ble. Four years later our action to improve the output from our statio ns and to reduce our costs has transformed our business performance. W hether the Government will wish to consider a move out of the State se ctor for Nuclear Electric is a matter for them. Our task is to open up that option for our shareholder. Nuclear Electric aims to invest in n ew generating plant in order to maintain our production capacity as ou r older stations close. We envisage seeking private sector backing for investment in new plant which will be assessed on a fully commercial basis. Our demonstrated success at Sizewell B reinforces our confidenc e that we can exploit this state-of-the art design as the basis for fu rther PWR construction. The rapid and continuing improvement in our pe rformance as a business and the prospects for long-term commercial via bility make a strong case in favour of Nuclear Electric's future as a leading generating company in a electricity market of England and Wale s.