Building a world of
resilient communities.

MAIN LIST

 

British Energy hit by nuclear shutdowns

The sorry state of British Energy?s operations were under-scored on Friday when the company reported a bigger than expected £234m pre-tax loss for the six months to the end of September.

The figure was almost four times the £60m loss incurred during the corresponding period last year. The nuclear generator, which produces about 20 per cent of the country?s electricity, is subject of a £5bn government backed rescue due to be completed early next year. Mike Alexander, chief executive, blamed the losses on a combination of volatile electricity wholesale prices and reduced electricity output due to the need to replace ageing cast iron pipework at its nuclear power stations at Hartlepool in Teeside and Heysham in Lancashire.

The group, which has ruled out restoring its dividend until at least 2007, said ?the outlook for the company?s financial and trading prospects for the remainder of the financial year will be challenging?.

The unplanned closure of the two power stations for repairs forced the group to buy higher priced power in the market to meet commitments to customers, adding to its losses.

Nuclear electricity output fell by 14 per cent compared with the corresponding period last year. The group as a result has reduced its forecast for output for the full year to 59.5 terrawatt hours (TWh) from its original target of 64.5 terrawatt hours. This compares with best ever annual output of 67TWh in 2002.

British Energy has contracted a group of leading US nuclear engineers to try to improve the reliability of its nuclear power stations all but one of which, Sizewell B in Suffolk, are due to close by 2023. The generator, if performance can be improved, would like to extend the life of its power station by at least five years.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Asia depends on Middle East for 66 % of its oil imports

Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) …

Rural Colorado Leads the Charge for Energy Freedom

Last week the Western Slope Colorado witnessed a huge victory for energy …

“We are in danger of winning. But….”  

First in-depth radio interview on The Winning of the Carbon War, on Radio …

Renewable Energy Redoubles its Global Reach

A significant threshold has been crossed by renewable energy as analysts …

Peak Oil Review - June 29

A weekly review in including Oil and the Global Economy, The Middle East …

Energy Crunch - six months to go

With fewer than six months to go until the UN climate summit in Paris, …

BP Data Suggests We Are Reaching Peak Energy Demand

The real situation is that we right now seem to be reaching peak energy …