UK authorization for China-built nuclear reactor will take 5 years

16/01/2017 10:33 Electricity Market


British nuclear regulators are likely to take five years to finalize the approval process for the construction of China's third-generation "Hualong One" reactor in Britain, the China General Nuclear Corporation (CGN) declared on Friday.

The British government requested to regulators to begin the approval process this week for the suggested nuclear station at the Bradwell site in Essex, likely to be one of the first new UK plants in decades. CGN, along with its associate France's EDF, is looking for permission from London to use its homegrown Hualong One advanced reactor technology for the project, also known as HPR-1000. The plant's "generic design assessment" will be based on unit three of CGN's Fangchenggang nuclear project in southwest China, which is presently under construction, as announced by CGN in a statement posted on the website of China's state asset regulator. EDF is currently constructing the $24 billion Hinkley Point C nuclear reactor in southwest England after the project was authorized by Britain last September. CGN decided to offer a third of the investment in the Hinkley Point C project on the understanding that the move would aid it obtain future projects in Britain. China's first Hualong One unit is likely to be accomplished by 2020 at the Fuqing nuclear project in Fujian province on the southeast coast and is being built by CGN's competitor, the China National Nuclear Corporation (CNNC). China is now in the middle of a huge reactor-building expansion that will see the total domestic capacity increase to 58 gigawatts by the end of 2020. It also targets to turn into a leading global actor in the nuclear sector and has already inked accords to build reactors abroad, including in Argentina and Romania.

Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.