EDF to extend the life of four of its UK nuclear power stations by up to seven years

16/02/2016 11:36 Electricity Market


French energy firm EDF plans to prolong the lifespan of four from eight nuclear power plants in the UK.

EDF said the lives of the Heysham 1 and Hartlepool plants would be extended by five years until 2024 and the closure dates of Heysham 2 and Torness will be pushed back by seven years to 2030. This decision will safeguard 2,000 jobs and help with tight energy supplies. The nuclear power plants provide electricity for about a quarter of British homes. EDF, which is 85% owned by the French government, unveiled the extensions as it registered a 68% plunge in profit last year mainly due to writedowns on coal-fired plants and cut its annual dividend. Its shares have lost almost 25% since the start of the year. Meanwhile, EDF has to make a final decision over the construction of a vast new nuclear power plant at Hinkley Point in southwest England. It has concluded a deal under which China General Nuclear Power Corporation (CGN) will pay a third of the cost of the £18bn project in exchange for a 33.5% stake.

Daily (05.12.2019): Oil prices skyrocketed about 4% on Wednesday ahead of the OPEC meeting

05/12/2019 10:41:00

Crude oil prices skyrocketed on Wednesday, buoyed by hopes of deeper production cuts from OPEC and its allies and following a larger-than-expected drop in U.S. stockpiles. Brent crude soared by 3.6% to settle at $63 a barrel. WTI crude gained 4.2%, closing at $58.43 a barrel. It was its third straight day of gains, and its best day since September.


France's EDF extends Cruas 2 nuclear reactor outage to Saturday

05/12/2019 09:13:00

French utility EDF on Wednesday extended the outage at its 900 MW Cruas 2 nuclear reactor by two days until Saturday, adding that resumption of power generation could be delayed by ongoing safety checks following an earthquake.


Total to supply LNG fuel to CMA CGM vessels for 10 years

05/12/2019 09:09:00

French energy major Total and compatriot shipping company CMA CGM have signed an agreement for the supply of approximately 270,000 tonnes of LNG per year over ten years.