02:19 PM EDT, 05/13/2024 (MT Newswires) -- Korea Electric Power ( KEP ) is in discussions with the UK government to construct a new nuclear power station off the coast of Wales, the Financial Times reported Sunday, citing people briefed on the matter.

The South Korean state utility held initial talks with British officials regarding a potential facility at the Wylfa site in Anglesey, and a ministerial meeting is expected with Kepco this week on the proposals, the report said.

The talks are in "very much early stages," and Claire Coutinho, energy secretary, would welcome all interest, a UK government official said, according to the FT.

Kepco did not immediately respond to MT Newswires' request for comment.

Shares of Kepco fell 4.8% in recent Monday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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