EDF Energy to delay Hinkley Point to 2021

29/05/2012 12:52 Electricity Market

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The energy major EDF Energy is postponing the £1.2bn civil engineering contract for the construction of new nuclear station at Hinkley Point in Somerset, bringing more uncertainty over the nuclear renaissance.

Two building consortiums led by Balfour Beatty and Laing O'Rourke were expecting to hear about the deal in these recent days, but now a decision it is likely to be made in 2013 at the earliest. Under the new move, a new reactor will be built in Somerset in 2021 the soonest, around four years later than originally envisaged. EDF Energy declared that it still plans to continue the construction of new reactors in Great Britain, but industry experts say uncertainty over the government's planned support mechanism through "contracts for difference" and the election of President François Hollande, who is skeptical about nuclear power, have prompted EDF to put its plans on hold.

Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week

20/10/2020 09:47:00

Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.

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French nuclear hits 41 GW, up 12 GW over past month

20/10/2020 09:25:00

French nuclear generation ramped up to 41 GW on Oct. 19 as more reactors returned to service after maintenance, lifting average output by 12 GW over the past four weeks, system data showed.

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UK government extends price cap on energy bills to end of 2021

20/10/2020 09:19:00

The cap was introduced in January 2019 to put a lid on standard variable tariffs, the basic rate that energy suppliers charge if a customer does not opt for a specific fixed-term deal. It had been due to expire at the end of this year

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