REG - Centrica PLC - Centrica announces nuclear life extensions

CentricaAnnouncement

04/12/2024 07:00

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RNS Number : 6866O  Centrica PLC  04 December 2024

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

 

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