Centrica expects boost to power generation from extension of nuclear plants' life
Reuters
Published Mar 14, 2023 07:27
Updated Mar 14, 2023 09:26
(Reuters) -Centrica Plc said on Tuesday it expects to add six terawatt hours to its electricity generation volume between 2024 and 2026, following the extension of the operating life of two nuclear power stations in England.
EDF (EPA:EDF) Energy, which operates the Heysham 1 and Hartlepool plants in Britain, said last week it would extend the life of the plants by two years to March 2026, in a boost to Britain's energy security amid turbulent gas and power markets.
Britain was forced to fire-up two coal power units earlier this month to help ensure power supply amid a cold snap.
The 6 TWh (terawatt hours) addition equates to roughly 70% of Centrica (LON:CNA)'s total nuclear power volume in 2022, the company said.
Centrica holds a 20% stake in Britain's nuclear plants through a joint venture with EDF Energy's owner, France's state-owned EDF. EDF Energy operates all of Britain's eight nuclear power plants.
The British Gas owner's shares were up 0.5% in early trading.
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Written By: Reuters
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