Author Archive for New Power

Drax winds down coal plant spend

Drax saw pre-tax profit fall by £50 million in the six months to 30 June, compared to 2015. The removal of Levy Exemption Certificates and deteriorating commodity markets were to blame, the company said. The effect had been mitigated by…

Hinkley Point C decision ‘next week’

EDF has called its board members to a meeting on 28 July to take a final investment decision on Hinkley Point C. The meeting follows a 4 July meeting with EDF’s works council, after which EDF said it reconfirmed its…

SSE sells street lighting PFIs

SSE has sold its interest in three public financing initiative (PFI) street lighting entities to a DIF Infrastructure fund. The sale is expected to make £130 million and will conclude SSE’s two-year £1.1 billion programme to reduce debt and raise…

France’s nuclear bailout faces Commission probe

The European Commission has opened an in-depth investigation to determine whether France broke State Aid rules when it brokered a €4 billion bailout for Areva, the company due to supply the reactor for EDF’s Hinkley Point C project. Areva is…

Further delay to Moorside nuclear plant licence

The target date for licensing  the design for the Moorside new nuclear plant has been delayed a second time, to March 2017, and the schedule “remains challenging”, the Office for Nuclear Regulation (ONR) said in a regular licensing update. The…