Hinkley Point deal uncertain, once again

03/12/2013 10:12 Electricity Market


The European Union is likely to open an official inquiry into whether the Hinkley Point nuclear deal breaks the EU rules on competition. Britain in October signed a deal with EDF to build a nuclear plant at Hinkley Point in southwest England and became the first European country to offer a guaranteed power price over 35 years for a new nuclear project. Britain has said it is confident it will get clearance, but a formal European Commission probe could take years, throwing uncertainty over the nation's plans.

Under strong rules from Brussels, state governments are not allowed to get implicated in the free market on a large-scale, that’s why the EU is considering whether the 35-year-deal is too long and tantamount to state backing of a private deal. The EU officials said Brussels was likely to investigate the deal to make sure it conformed to the state aid rules. The commission frowns on national governments offering deals to companies that stifle competition and alter the market. Moves by the commission to obstruct or completely alter the nuclear deal may cause a major dispute between UK and EU officials as numerous Conservative MPs and some other parties are strictly opposed to Europe's influence over UK policy.

UK ETS auctions to begin on 19 May

01/03/2021 08:27:00

The first auction of UK ETS allowances (UKAs) will be held on the platform on 19 May, and will continue to take place on alternate Wednesdays from here until the final sale of the year on 15 December.


Daily (26.02.2021): Brent crude rally take a breather, while U.S. WTI crude ends at its highest since May 2019

26/02/2021 09:49:00

Crude oil prices diverged on Thursday, with Brent crude steadying after a period of optimism amid concerns over OPEC+’s willingness to continue output cuts grow. In contrast, U.S. WTI crude gained ground, spurred by optimism of quickly depleting global oil inventories. Hence, Brent crude lost 0.2% to settle at $66.88 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to 63.53 a barrel, marking its highest finish since May 2019.


Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

26/02/2021 08:59:00

Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.