EDF reiterates its support for Hinkley Point nuclear project despite Brexit

05/07/2016 10:37 Electricity Market

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French power utility EDF on Monday reiterated its support for the development of delayed new nuclear power station at Hinkley Point in southern England, declaring that British referendum to quit the European Union will not affect its plans.

However, a long-awaited final investment decision is still to be made. EDF has been consulting with unions in France, some of which have voiced concern about the financial implications of the £18 billion project on the company. The unions fear the investment is too risky, and could bankrupt the company. However, the UK trade unions as GMB, Unite, Ucatt, and Prospect are 100% supporting Hinkley Point C and said that it is vital to make a final investment decision Hinkley Point, which was due to be completed in 2017, is currently expected to be finished by 2025.

Diesel prices fall again on the back of easing global crude oil prices

21/09/2020 09:11:00

The recent fall in transport fuel prices comes in the wake of softening of global oil prices as an extended run of Covid-19 has depressed demand and created a glut in the market.

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Turkey extends renewable energy support mechanism date

21/09/2020 09:03:00

If plant equipment is locally-produced, additional support for five years will be given starting from commission date

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The Electrification Of UK Offshore Oil & Gas

21/09/2020 08:26:00

The British government has set a goal to reach net zero emissions by 2050. Electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target, as a Rystad Energy analysis shows that UK oil and gas production will remain significant for decades to come. After a small decline over the next several years, output forecast to rebound to approximately 2 million barrels of oil equivalent per day by around 2035. UK emissions from oil and gas production in the North Sea are the highest among the region’s producers, reaching 13.1 million tonnes of CO2 in 2019, according to Rystad Energy emission data. Extraction emissions account for 10.1 million tonnes of CO2, with flaring making up the rest.

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