Centrica Needs Government Backing for Nuclear, Evolution Says

Centrica Plc, the U.K.’s biggest energy supplier, shouldn’t build nuclear power plants with Electricite de France SA unless the British government accepts some construction risk, according to Evolution Securities.

“In new nuclear, Centrica is a minority holder, in a technology in which it has no institutional understanding, and where as emphasised by Flamanville, construction risk is notorious,” Lakis Athanasiou, an analyst at Evolution, said in a note to investors today.