PUBLIC opinion has swung in favour of nuclear power, with a poll showing that more people support the building of new nuclear power stations than oppose them.

The MORI polling, conducted over the past month for the Nuclear Industry Association, shows the balance in favour of nuclear power for the first time since 1999. The swing in public opinion comes after several eminent scientists and politicians expressed their support for nuclear power.

According to the poll results, 35 per cent of the British population said they would support the building of new nuclear power stations to replace those stations that are being phased out over the next few years.

In contrast, 30 per cent of the population said they would definitely oppose any such new nuclear power stations — down from 60 per cent of the population three years ago.

Public opinion of the nuclear industry and nuclear energy has also shifted significantly, after five years where the industry’s favourability rating fell.

According to the latest poll, 35 per cent of the population said they felt favourable towards the nuclear industry and nuclear energy. In 2001, the figure was only 19 per cent.

Some 30 per cent of the population felt unfavourably disposed towards the nuclear industry, down from 57 per cent in 2001.

Concerns over global warming, Britain’s dependence on overseas fuel sources and soaring energy costs last year led to a resurgence of interest in nuclear power.

Among those to endorse nuclear power were James Lovelock and Bishop Hugh Montefiore, two leading environmentalists.

• British Energy, the nuclear group that provides the UK with a fifth of its electricity, relisted its shares yesterday after completing a restructuring that has effectively handed control of the company to its creditors and wiped out small shareholders.

  US hedge funds were the biggest winners as shares they had secured through buying the company’s debt opened at 286p. Duquesne Capital Management emerged as the biggest shareholder with 14 per cent of the shares, after it bought the distressed bonds over the past two years.

  Deutsche Bank has 10.2 per cent. Stark Investments, run by Brian Stark, the investor, and the Eureka Fund have 7.8 per cent and 7.9 per cent respectively. Analysts warned small shareholders to be wary as the shares closed down at 263p. Brokers at Cazenove suggested that fair value for the company is 200p. Morgan Stanley said that 210p was a suitable value.

  “We see substantial downward pressure on the wholesale electricity price due to falling gas prices and we are yet to be convinced that BE’s UK nuclear fleet can be run at high load factors,” Cazenove analysts said in a research note.

  Credit Suisse First Boston gave a target of 262p.

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