FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
July 30, 2004
BRITISH ENERGY PLC
(Registrant's name)
3 Redwood Crescent
Peel Park
East Kilbride G74 5PR
Scotland
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X.. Form 40-F.....
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
Exhibit Index
The following document (bearing the exhibit number listed below) is furnished
herewith and is made a part of this Report pursuant to the General Instructions
for Form 6-K:
Exhibit Description
No. 1 RNS Announcement, re: Output Projection Statement dated 30 July 2004
30 July 2004
British Energy plc
NUCLEAR OUTPUT PROJECTION FOR 2004/05 FINANCIAL YEAR
Following evaluation of structural inspections carried out during the current
statutory outage at the Hartlepool power station and intensive discussions with
the Nuclear Installations Inspectorate, the company has decided that further
work to demonstrate the integrity of certain boilers is necessary. This work may
entail visual inspections of a number of boilers at Heysham 1 (one reactor is
shut down and the other is due to be shut down for its statutory outage in
August) and at Hartlepool (one reactor is currently shut down and there is no
impact on the operation of the other reactor).
The company has reviewed its annual nuclear output target previously announced
at 64.5TWh. The company believes that in the light of the new issues at
Hartlepool and Heysham 1 it is prudent to revise the nuclear output target for
the 2004/05 financial year to around 61.5TWh.
A further update on the matter will be given at the time of the company's annual
general meeting on 5th August 2004.
British Energy's Proposed Restructuring remains subject to a large number of
significant uncertainties and important conditions, including receipt by the
Secretary of State for Trade and Industry (the 'Secretary of State') of a
satisfactory notification from the European Commission that in so far as the
proposals involve the grant of State Aid by the UK Government, such aid is
compatible with the common market. The Secretary of State expects to receive
this notification by autumn 2004. Furthermore, the Secretary of State is
entitled not to proceed with the Proposed Restructuring if, in her opinion, the
Group will not be viable in all reasonably foreseeable conditions without access
to additional financing beyond that which is committed and will continue to be
available when required.
If for any reason British Energy is unable to implement the Proposed
Restructuring it may be unable to meet its financial obligations as they fall
due in which case it may have to take appropriate insolvency proceedings. If
British Energy were to commence insolvency proceedings, distributions, if any,
to unsecured creditors may represent only a small fraction of their unsecured
liabilities and it is highly unlikely that there would be any return to
shareholders. Even if the Proposed Restructuring is completed, the return, if
any, for shareholders will represent a very significant dilution of their
existing interests.
This document contains certain "forward-looking" statements as defined in
Section 21E of the US Securities Exchange Act of 1934, including statements with
respect to British Energy's business plans, the performance of its stations,
electricity prices and other matters that are not historical facts concerning
the business operations, financial condition and results of operations of
British Energy. These forward-looking statements typically contain words such as
"intends", "expects", "anticipates", "estimates", "aim", "believe", "assume",
"should" and words of similar import, which are predictions of or indicate
future events or future trends. These forward-looking statements involve known
and unknown risks, uncertainties and other factors, which are in some cases
beyond the control of British Energy and may cause actual results or performance
to differ materially from those expressed or implied from such forward-looking
statements.
Contacts:
Andrew Dowler Financial Dynamics, Media 020 7831 3113
Paul Heward British Energy 01355 262 201
Website: www.british-energy.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: July 30, 2004 BRITISH ENERGY PLC
By:____Paul Heward____
Name: Paul Heward
Title: Director - Investor Relations