Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Britain allows two gas power stations to increase output

Published 28/06/2022, 12:18
Updated 28/06/2022, 12:21
© Reuters.

LONDON (Reuters) - The British government has granted permission for two gas power stations to increase output by a combined 219 megatwatts (MW), it said on Tuesday.

Little Barford Power Station in the east of England can raise electricity output by 70 MW to 750 MW while Staythorpe Power Station in the east Midlands can increase generation by 149 MW to 1,649 MW, according to the decision by the minister of state for business, energy and industrial strategy.

Britain - which generated a total of 310 TWh of electricity in 2021 - is like other European countries drawing up contingency plans against potential disruption to flows of Russian gas because of the war in Ukraine. Russia supplies about 40% of Europe's gas.

Although Russia only meets about 4% of Britain's gas needs, a significant disruption in supply would drive already elevated prices even higher in Europe, and make it harder for Britain to secure gas from others. Britain can generate about 50% of its electricity from gas.

In May, the government said that some of the British coal-fired power plants slated for closure this year might need to stay open to ensure electricity supply this winter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.