THE electricity generator hoping to take control of the debt-ridden Drax Power Station yesterday revealed it was considering mothballing plants in the US.
International Power warned it faced a difficult year ahead as the US economy continued to try to haul itself out of the doldrums.
The London group, which has interests in 28 power stations in 12 countries, said the US market was static and that it saw no improvement in its interests across the Atlantic.
Pre-tax profits dipped 14 per cent to £71m in the third quarter, and were down from £312m to £209m for the year so far.
Sir Neville Simms, International Power chairman, said: "The pricing environment in the US remains weak, and in the absence of significant improvement in our US markets, we expect 2004 to be a difficult year."
Sir Neville said company interests elsewhere in the world were performing well, delivering good profitability and cash flow.
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