4 December
2024
Centrica plc
Centrica announces extension to the lives of four nuclear
power stations
Centrica plc (the "Company") is
pleased to announce the extension of the lives of its four
operational Advanced Gas-cooled Reactor ("AGR") nuclear power
stations alongside its partner, EDF.
Heysham 1 and Hartlepool are now
expected to generate electricity until March 2027, one year later
than previously expected. And Heysham 2 and Torness have been
extended by two years and are now expected to generate until March
2030. These extensions are expected to add around 9 TWh to the
Company's electricity generation volumes between 2026 and
2030.*
The extensions will support the UK's
baseload power generation for years to come, support the UK's net
zero ambitions and help maintain grid stability at a time when
cleaner, but more intermittent, renewable generation is being added
to the energy mix.
Chris O'Shea, Centrica Group Chief
Executive said:
"At a time when energy security is
uppermost in people's mind, I'm delighted that we're able to extend
the operating window of the UK's nuclear fleet, which is critical
to UK security of supply and the country's net zero ambitions. In
an energy system that is becoming ever more intermittent, baseload
power generation that doesn't depend on the sun shining and the
wind blowing is essential to keeping the lights on. Today's
extensions to the lives of the zero carbon Heysham 1, Heysham 2,
Hartlepool and Torness nuclear power stations are a positive
reflection of the valuable investment that Centrica and EDF have
made in these plants.
"There is no silver bullet that will
achieve net zero, but a diversified energy system underpinned by
nuclear power is a positive further step towards a greener, fairer
future. We're delighted that a further extension was possible which
allows us the time necessary to develop other zero carbon
dispatchable electricity generation options such as new nuclear and
hydrogen fired generation. We must move at a faster pace to ensure
that these replacement technologies are deployed in
time."
The decision was taken after a
detailed review process which sought to ensure that the lifetime of
the power stations can be extended without compromising safety. The
possibility of additional extensions would be subject to the
outcome of further reviews, and any new decisions would be
communicated publicly.
ENDS
*Notes to Editors
·
These extensions are expected to add 45TWh total,
or 9TWh at Centrica's 20% share.
·
This latest lifetime extension is the most likely
view.
·
These dates are forecasts, and the precise dates
will be determined by the results of regular graphite inspections
and how those results are interpreted by the operator, and by the
independent regulator, the Office for Nuclear
Regulation.
·
End of generation dates are kept under review and
revised based on the best information available at the
time.
·
Decisions on end of generation dates for nuclear
power stations in the UK are independent of the regulator or
government and are taken by the licensee board following
recommendations. They are then endorsed by relevant senior Boards
and, if needed, shareholders.
·
The decision on the change of generation dates for
the four stations was taken following a series of executive, board
and shareholder meetings on 3 December 2024.
·
Heysham 2 and Torness were due to move into
defueling in March 2028 based on a review in 2021.
·
Heysham 1 and Hartlepool power stations were due
to move into defueling in March 2026 based on a review in
2023.
· The
results of inspections of the graphite cores during 2024 have
supported the decision to extend station
lifetimes.
·
Sizewell B is a different type of nuclear power
station, and its lifetime was not reviewed as part of this process.
There is also a good opportunity to extend the lifetime of the
Sizewell B station for a further 20 years, out to 2055. This will
require securing a sustainable commercial model before an
investment decision is taken.
Enquiries:
Investors and Analysts
T: 01753 494900
E: ir@centrica.com
Media
T: 01784 843000
E: media@centrica.com
Centrica
plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead
Road, Windsor, Berkshire SL4 5GD
Registered in England & Wales number:
3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229