Latest news with #EDFEnergy
Yahoo
2 days ago
- Business
- Yahoo
New Nuclear Plant to Power Six Million British Homes
Weeks after Germany decided to reverse course and 're-embrace' nuclear power following their supreme idiocy on the matter, the UK government announced on Tuesday that it would invest 14.2 billion pounds (US$19.3 billion) to build a new nuclear plant in the southeast of England. The move was revealed by the Department for Energy Security and Net Zero as part of its broader spending review, which will lay out priorities for the next four years. The new plant, named Sizewell C, will be located in Suffolk county, and is predicted to create around 10,000 jobs during construction, according to a government statement. Once operational, it will create enough electricity power roughly 6 million homes. "We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis," said Energy Minister Ed Miliband. "This is the government's clean energy mission in action, investing in lower bills and good jobs for energy security." As the Epoch Times notes further, the UK has also been tapping up new investors to fund the construction of Sizewell C, but no new partners were mentioned in the announcement. Neither the total cost of construction nor a date for expected completion has been announced. Sizewell C was originally an EDF Energy project but is now majority-owned by the British government, with EDF Energy a minority shareholder. EDF Energy is the British arm of Électricité de France (EDF), which is wholly owned by the French state. The UK government's stake was 83.8 percent and EDF's stake was 16.2 percent at the end of December, EDF's financial results showed in February. Sizewell C would be just the second new nuclear plant built in Britain in more than 20 years, after another EDF project, Hinkley Point C, which was first announced in 2010. Hinkley Point C, based in Somerset, southwest England, has been beleaguered by delays and budget overruns and is currently expected to come online in 2029. Sizewell C would be the third power station built on the site after Sizewell A and Sizewell B, both of which are currently in the process of being decommissioned. The Department for Energy Security and Net Zero also announced that it had picked Rolls-Royce SMR to build Britain's first small modular reactors (SMRs). About 2.5 billion pounds ($3.4 billion) of government funds will be dedicated to the SMR program over the next four years, in a bid to get one of Europe's first small-scale nuclear industries going. SMRs are usually around the size of two football fields and composed of parts that can be assembled in a factory, making them quicker and cheaper to build than conventional plants. The moves by Britain come amid a renewed interest in nuclear power across Europe, sparked by spiraling energy costs due to the ongoing war between Russia and Ukraine, which is hampering the continent's supply of natural gas. European Commission President Ursula von der Leyen said in a keynote speech in August 2024 that the European Union needed more nuclear power. By More Top Reads From this article on
Yahoo
09-03-2025
- Business
- Yahoo
Martin Lewis' MSE message to British Gas, Octopus, Eon, EDF and OVO customers and says 'no risk'
UK households are being alerted to a chance to avoid energy bill increases next month. Typical charges will rise by £111 a year from April in the latest blow to hard-up Brits. But households can still take action before the start of April to keep their bills down. Martin Lewis' Money Saving Expert is highlighting an offer from EDF Energy which is below the new Price Cap rate and, crucially, has no exit fees. READ MORE: Nationwide says 'do three things before March 31' to get £175 bonus payment Get our best money saving tips and hacks by signing up to our newsletter They say customers with some of the biggest energy suppliers like British Gas and Octopus may want to consider switching. The lack of any exit fees could be a big draw as it provides peace of mind people can get out of the fixed contract if prices fall later down the line. MSE said: "Energy Price Cap to rise 6.4% in April, but what next? The no-risk fix. "The Energy Price Cap, which two-thirds of homes in England, Scotland and Wales are on, moves every 3 months - and we know it'll rise 6.4% in April. "As the current cheapest fixes are 7% below today's Price Cap, they're massively cheaper than April's price, so use our cheapest fixes comparison to find your cheapest and ditch the Price Cap. "What happens for the July cap and beyond? Analysts' current predictions are the cap will remain materially higher for the next 12 months. "Yet if there's peace in Ukraine, prices could plummet. "Some have said they're not fixing due to this - if so, consider the no-risk fix: You're always free to ditch a fix, though you sometimes need to pay early exit fees of £25 to £75 per fuel. "Yet this cheap EDF no exit fee 'Simply Fixed Direct' tariff is 4.8% below the current Cap (10.5% below April's), and if prices do fall, you can leave penalty-free whenever."
Yahoo
30-01-2025
- Politics
- Yahoo
Fish protection row risks delaying British nuclear power plant
Britain's Hinkley Point C nuclear power plant risks being delayed yet again because of a row about fish, the project's owner has said. EDF Energy said it was struggling to agree protection measures for fish in the River Severn over fears thousands of them will be killed in its water cooling intakes. This has 'the potential to delay the operation of the power station', it said. The nuclear plant is already running years behind schedule. It was initially expected to power homes in 2017, but the start date was last year delayed until at least 2029. EDF has also said the scheme will cost as much as £35bn to complete, up from previous estimates of between £25bn and £26bn in 2022. The threat of a further delay comes after months of tussles over Hinkley Point C's seawater cooling system. EDF has estimated that the system, which would suck seawater up to cool the plant, would result in 44 tonnes of fish being ingested and killed every year. Campaigners have argued salmon stocks will be decimated by the scheme, while Hinkley Point C officials have claimed there would be a 'very small impact on fish populations'. EDF has suggested flooding 840 acres of land to create new saltmarsh habitats where marine species will be able to breed. However, environmental groups have been pushing for 'acoustic fish deterrents' to be installed at the power plant which would use loudspeakers to scare away fish. Earlier this month, Sir Keir Starmer singled out the proposal for ridicule, saying it was part of a system that was 'holding us back and stifling growth'. Writing in the Daily Mail, he said of the acoustic fish deterrent plan: 'I wish I was joking.' The Prime Minister said there were 'countless examples of Nimbys and zealots gumming up the legal system often for their own ideological blindspots to stop the Government building the infrastructure the country needs'. He vowed to speed up infrastructure projects to help spur growth. Hinkley Point C is the only nuclear power plant currently under construction in the UK. Once finished, the plant in Somerset is expected to provide around 7pc of Britain's total power. The Government has signalled that nuclear power will be crucial to help Britain meet its net zero goals. Ed Miliband, the Energy Secretary, said last month: 'Getting Hinkley up and running to produce clean power for 6m homes will be a win for our long-term energy independence, protecting billpayers as we accelerate to net zero.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
The Guardian
30-01-2025
- Business
- The Guardian
Hinkley Point C owner warns fish row may further delay nuclear plant
The owner of Hinkley Point C in Somerset has warned that the much-delayed construction of Britain's first new nuclear power plant in a generation could face further hold-ups due to a row over its impact on local fish. The nuclear developer, EDF Energy, warned that the 'lengthy process' to agree to a solution with local communities to protect fish in the River Severn had 'the potential to delay the operation of the power station'. As a result, the developer, which is owned by the French state, raised the threat of further delays to Hinkley Point – a project already running years late and billions of pounds over budget. EDF said last year that Hinkley could be delayed to as late as 2031 and cost up to £35bn, in 2015 money. The actual cost including inflation would be far higher. EDF declined to say how long any new delay could be. The prospect of a fresh delay to the plant, which is expected to generate about 7% of the UK's electricity in the 2030s, comes amid a deepening row between green groups and the government over the chancellor, Rachel Reeves's plan to prioritise economic growth over other considerations, including the environment and net zero. EDF last week welcomed the government's new reforms to 'stop blockers getting in the way' of new infrastructure projects, including nuclear power plants. It called for the government to establish a framework to manage environmental concerns 'in a more proportionate' manner. The developer has pressured the government to loosen environmental rules while at loggerheads with local communities over its complex plans to protect local fish populations which are at risk of being sucked up into the nuclear power plant's cooling systems. The company had planned to install an 'acoustic fish deterrent' to keep fish away from the reactor's water intake system, which is nearly two miles offshore. The project, which was reportedly informally dubbed 'the fish disco' among former ministers, would require almost 300 underwater speakers to boom noise louder than a jumbo jet 24 hours a day for 60 years. But the plan was later scrapped by EDF over concerns for the safety of divers who would need to maintain the speakers in dangerous conditions. There are also questions over its effectiveness. Without it an estimated 18 to 46 tonnes of fish could be killed every year. The company dismayed local farmers and landowners last year by suggesting plans to turn 340 hectares (840 acres) of land along the River Severn into a salt marsh to compensate for the number of fish forecast to be killed by the reactor every year. After a growing outcry, it said earlier this month it would delay the formal consultation on its salt marsh plan, which it says would provide safe habitats for fish and animals, from the end of this month until later this year. The Hinkley Point project is seen as an important part of Britain's plan to meet its legally binding target to reduce its carbon emissions to net zero by 2050. But it has already faced lengthy delays and spiralling costs. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion In 2007, EDF had said turkeys would be cooked using electricity generated from Hinkley by Christmas 2017. When the project was finally given the green light in 2016, its completion date was set at June 2027 and the cost was estimated at £18bn. The company has called on the government to set new planning reforms which ensure that the need for environmental safeguards are determined 'in a proportionate and reasonable way'. In a statement, EDF said: 'Hinkley Point C is the first power station in the Severn to have fish protection measures in place, with a specially designed low-velocity cooling water intake system and a fish return system. 'However, the current lengthy process to identify and implement acceptable compensation for a small remaining assessed impact on fish has the potential to delay the operation of the power station.' The cost of Hinkley's sister project, at Sizewell C in Suffolk, has doubled to £40bn since plans were presented in 2020.
