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.

Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities

17/09/2019 11:00:00

Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.


Belgian capacity market will lead to oversupply – Anode

17/09/2019 09:25:00

Belgium’s plans to launch a capacity market could lead to an oversupplied system, which will hurt profitability for new and existing power plants, said Anode Energie portfolio manager Kris Voorspools.


Ofgem gives conditional nod to 220-MW Scottish interconnector plan

17/09/2019 09:19:00

UK energy regulator Ofgem said today it has given the thumbs-up to the construction of a 220-MW high-voltage transmission line that will connect the Orkney Islands with the Scottish mainland.