Centrica will after all invest in Britain's nuclear power stations after driving a hard bargain with EDF Group for a 20 percent stake in the power stations the French utility bought from British Energy earlier this year. Last summer Centrica reached a non-binding memorandum of understanding with EDF to buy 25 percent of British Energy at the same valuation EDF agreed for the UK nuclear generator. The City's perception of the EDF-British Energy deal was that the 12.5 billion pounds paid by EDF was high considering that energy commodity prices had fallen substantially by the end of 2008 when the deal was concluded.
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