GE Energy won't sell UK plant this year

GE Energy, the energy arm of U.S. conglomerate General Electric Co, will not sell its Baglan Bay gas-fired power plant in Britain this year, the company said on Wednesday.

We have decided not to offer the plant for sale at this time. We will reevaluate that position next year, GE Energy spokesman George Krakat said.

Earlier on Wednesday, Russian business daily Vedomosti quoted a source at giant Russian gas company Gazprom as saying the company was interested in acquiring a stake in the plant.

GE Energy had hired financial advisers Lexicon Partners to explore a possible sale of the 510-megawatt plant in Port Talbot, South Wales.

The plant opened in 2003 and is expected to undergo a routine turbine inspection next year.

Gazprom said last year it was interested in bidding for the UK's largest gas utility, Centrica, as part of its strategy to expand its business downstream to marketing gas directly to European consumers.