British Energy has been struggling with debt
British Energy has said it cannot confirm whether it plans to pull out of its Scottish headquarters.
The company, which employs 300 people in East Kilbride, South Lanarkshire, is drawing up a major restructuring plan.
The nuclear power generator is struggling to cope with slumping power prices.
The Financial Times said managers were considering relocating to Barnwood, Gloucestershire, in a cost-cutting move.
A spokesman for the firm acknowledged that cost-cutting measures were part of the plan, but said no decisions had yet been taken.
All possibilities are being looked at and no decisions have been made at all
He said: "We are obviously going through a period of restructuring.
"All possibilities are being looked at and no decisions have been made at all."
Earlier this year, the government announced it was seeking state aid from the European Commission for British Energy and would extend the company's £650m credit facility.
Ministers have also agreed to cover the company's historic nuclear liabilities to the tune of £150m to £200m for up to 10 years.
Trade and Industry Secretary Patricia Hewitt told the House of Commons in February: "It remains open to government to withdraw the credit facility if the company does not continue to make progress in successfully delivering its
The restructuring programme is due to be phased in over the next 18 months.