The Contingent Value Right (“CVR”) is an instrument which is issued to Barclays Bank PLC and is linked to the Nuclear Power Notes.  When EDF acquired British Energy in January 2009, Nuclear Power Notes were issued to British Energy shareholders who chose to take them in lieu of 74 pence of cash per British Energy share held.

The Nuclear Power Notes are ten year financial instruments (2009 – 2019) which give ex British Energy shareholders a continuing financial interest in the EDF Energy Nuclear Generation Fleet. They are traded on the NEX Exchange (formerly known as the ICAP Securities & Derivatives Exchange).  

Each year a pre-defined calculation is performed to determine whether any cash will be paid to Nuclear Power Note holders. The calculation is dependent on the nuclear output of the EDF Energy Nuclear Generation Fleet (“Eligible Nuclear Output”) and market power prices (“Power Prices”). This calculation may or may not result in a cash payment each year to Nuclear Power Note holders.

Disclosure of certain information is required under the terms and conditions of the CVR. The announcements released in the last quarter are shown below.  For all other CVR announcements, please use the download centre below. 

Latest monthly announcement

Latest quarterly announcement

Latest ad hoc announcement

Nuclear Output summary

Download centre

All Nuclear Power Notes announcements can be viewed by visiting our download centre.

Frequently asked questions

If you have a query regarding your Nuclear Power Notes or any shares you previously held in British Energy, London Electricity and Seeboard, please see our frequently asked questions (FAQ).

Contact us

If you have a general enquiry about any of our financial information, contact us and we'll be pleased to help.