National Grid has reported an 18 per cent drop in operating profits to £2.8 billion after writing off £137 million of costs incurred in developing the connections for the now shelved Wylfa Newydd and Moorside nuclear projects.
The offshore wind industry’s sector deal with the government was unveiled months after the industry said it was within weeks of signing it, according to a new report by the Business, Energy and Industrial Strategy (BEIS) committee.
Pressed on the timing of the long-awaited policy paper last week during a debate on small modular reactors (SMRs) in the House of Commons, junior business minister Richard Harrington, said: “That will happen in the next few months—in early summer.”
Change is usually accompanied by uncertainty. Driven by the need to decarbonise, the energy industry is in the midst of a radical transformation. Whilst the end goal is clear, the route there is still being plotted out.
China General Nuclear Power Group (CGN) has announced plans to accelerate its new power station at Bradwell to fill the gap in the nuclear pipeline created by the recent demise of the Moorside project.