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Financial Statements

Adjusted EBITDA decreased in the year from £1,221m to £882m, reflecting the prevailing market price at the time of contracting forward sales of power, together with power buybacks in relation to the BCU issue and a tightening of the clean dark spreads for Eggborough.

Realised price was £40.7/MWh for the year, down £3.5/MWh from £44.2/MWh in 2006/07

Unit operating cost increased to £30.0/MWh for the year from £27.1/MWh in 2006/07

Operating margin decreased to £10.7/MWh from £17.1/MWh in 2006/07

Investment in Plant increased to £283m from £264m in 2006/07. In addition, BCU costs of £20m were incurred.