EDF’s new CEO is confident Hinkley C will be producing power by 2025. Simone Rossi, who took over the role in November, visited the site on Wednesday to announce EDF’s ambitions for Sizewell C, in Suffolk, as well as updating people on the progress being made on Hinkley – Britain’s first new power plant in a generation. Mr Rossi described Hinkley C as a ‘staggering logistical task’ and said EDF has a strong relationship with the local population. “Many local people work here and we have built strong relationships with local stakeholders, businesses and councils,” Mr Rossi said.
Bridgwater Mercury 23rd Jan 2018 read more »
The UK energy regulator faces a confrontation with National Grid over a major project to connect the Hinkley Point nuclear power station to the electricity network, with the FTSE 100 company suggesting that Ofgem’s proposals would make “sustainable investment in the UK energy sector” impossible. Ofgem on Tuesday published the first results of a consultation on the project, which will require a grid upgrade costing around £800m. The costs would be passed on to customers through energy bills over the following 25 years, but Ofgem proposed a structure for the project that it said could save consumers over £100m by limiting the returns available to National Grid. Ofgem suggested said it is minded to use a so-called “competition proxy” approach through which it would set the revenues allowed to National Grid as if the project had been put out to tender. However, National Grid complained that it was “very disappointed” with the parameters Ofgem had proposed for such a “complex and major infrastructure project”.
FT 23rd Jan 2018 read more »
National Grid has attacked Ofgem over plans to limit the amount that it can charge customers for connecting EDF’s new nuclear plant at Hinkley Point to the electricity grid. The cost of the connection will be passed on to consumers in their energy bills over 25 years, but the energy regulator said that it would cap the returns available to the company, a move that Ofgem claims will save consumers more than £100 million. Shares in National Grid, a regulated monopoly, fell by more than 2 per cent after the announcement. The company said that the plans were “very disappointing,” and added: “These parameters do not, in our view, offer the level of returns that would allow sustainable investment in the UK energy sector needed to deliver good outcomes for both customers and investors.”
Times 24th Jan 2018 read more »
National Grid may take the industry regulator to the Competition and Markets Authority over Ofgem’s plans to squeeze the revenues it can from its investment in connecting the Hinkley Point C nuclear project to the grid. Britain’s transmission giant hit out at the energy regulator after Ofgem revealed plans to cut the revenue it can make from the £800m project, warning that the proposed level does not offer sustainable returns for the heavy investment needed.
Telegraph 23rd Jan 2018 read more »
London Evening Standard 23rd Jan 2018 read more »