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.
On 11 July 2019 Ofgem published its strategic narrative for 2019-2023. In this document Ofgem reiterated its commitment to competition and consumers.
Dame Carolyn Fairbairn, director-general of the CBI, has urged the Government to consider alternative funding models for new nuclear. She joins EDF in lobbying for a ‘regulated asset base’ model, arguing that without it the UK will not be able to meet the Government’s new climate change targets. In a letter to Greg Clark, the business secretary, she also recommends that the Government to use this summer’s white paper to give ‘clarity on its vision’ to reach net zero.
On 10 June 2019, the Government lay legislation introducing a new supplier-led, subsidy-free Smart Export Guarantee (SEG). The SEG is designed to replace the Feed-in Tariffs scheme which was discontinued in March 2019.
1. Horizon CEO urges industry to fight for nuclear