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07.05.26 - 20:18
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Gas-fired power still looks a safe bet for Centrica in the renewables era (The Guardian)
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There will still be a need to have gas in the wings to keep the lights on, so the financials stack up on Severn plant purchaseThe eye-catching non-Hormuz news in energy-land last month was that Great Britain is set for a record-breaking summer for wind and solar power generation. The national energy system operator even thought there could be periods – a sunny weekend or a bank holiday afternoon of low demand, for example – when more renewable power would be available than the electricity grid needed.So, on the face of it, it is an odd moment for Centrica, owner of British Gas, to fork out £370m to buy a 16-year-old combined-cycle gas turbine plant in south Wales. After all, the government's clean power plan imagines that, come 2030, Great Britain's entire fleet of gas plants will be used to generate only 5% of its electricity, down from 31.5% in 2025. Continue reading......
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07.05.26 - 08:48
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Iran deal optimism lifts markets; anger as Shell′s profits more than double – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsClimate campaigners attack Shell over 'windfall' profits from Iran warElsewhere in the energy world, the owner of British Gas has agreed to buy the Severn gas power plant in South Wales for approximately £370m almost six years after its previous owner went bust.Centrica described its new acquisition as one of the most efficient gas plants in the UK, and said that it would play “a critical role” in stabilising the UK's electricity system.“The importance of reliable, flexible generation to balance the system continues to increase, keeping energy supplies secure and affordable as the energy transition progresses. Severn will play an important role in supporting that journey.With the delivery of replacement capacity being impacted by grid access, rising costs and supply chain constraints, alongside the closure of aging gas assets towards the end of the decade, the need for assets like Severn will increase.”On March 18, 2026, an attack on Ra...
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