On 14 January 2020, the European Union (UN) unveiled plans for €1 trillion in sustainable investments over the coming decade. The investment is designed to make the EU climate-neutral by 2050, however, the transition fund money under the plan will not finance the construction of nuclear power plants.
Following defeat last week, Jeremy Corbyn announced he would not stand as Labour Party leader at the next general election. The Labour Party will have to elect another leader and the next contest will be the first to take place under new rules established in 2018.
Ofgem plans to grant National Grid Electricity Transmission (NGET) £637 million to build a transmission link connecting Hinkley Point C to the grid. This is £80 million short of the NGET’s initial request of £717 million.
The Prime Minister has surprised many commentators by persuading the European Union (EU) to reopen the Withdrawal Agreement and agree a new Brexit deal. Over this weekend he may well surprise them further by getting that deal through Parliament, which will allow the UK to leave the EU on 31 October 2019.
EDF Energy has announced that the anticipated cost of Hinkley Point C has increased by £2.9 billion. This is almost a 15 per cent increase relative to the previous estimate. Project completion is now estimated to be between £21.5 billion and £22.5 billion.
Boris Johnson has set out his intention to give more control over rail services to local politicians. This move increases the need for transport companies and investors to change the way they think about shaping policy and decision-making.
The UK Atomic Energy Authority (UKAEA) is going to open a new fusion energy research facility in Rotherham, Yorkshire. The facility will cost £22 million and is hoping to engage industry in commercial fusion energy development.
The Department for Business, Energy & Industrial Strategy (BEIS) is working with EDF Energy and the Nuclear Decommissioning Authority (NDA) to plan for the decommissioning of EDF Energy’s nuclear stations.
Magnox Ltd has been transferred from Cavendish Fluor Partnership, its previous Parent Body Organisation, to the Nuclear Decommissioning Authority (NDA).
The latest World Nuclear Performance Report states that if nuclear is to provide 25 per cent of electricity, policymakers will have to demonstrate further commitment.
Microgeneration is climbing the political agenda. Since the UK legislated to reach net zero, small-scale, renewable generation is increasingly being seen as the way to decarbonise. The vision being presented is of a smart, flexible energy system powered by local communities. However, in reality, the UK isn’t ready.
Since becoming Prime Minister on 24 July 2019, Boris Johnson has moved quickly to appoint his frontbench and advisers. His picks are enlightening and indicate the Prime Minister has a plan for the months ahead, which could result in a General Election.