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EDF Energy’s 1GW Dungeness B nuclear power plant will continue to supply the UK with electricity until 2028 following a lifetime extension of ten years.
The nuclear operator said in a statement that it will invest £150 million to extend the life of the station, which first began generating power in 1983, due to the certainty provided by the government’s capacity market scheme.
“The case for investment in Dungeness B and other nuclear power stations has been supported by the existence of the capacity market – one of the reforms of the electricity market which gives investors confidence in highly challenging conditions,” said the company.
The UK’s first capacity market auction took place in December last year for delivery of power in winter 2018/19 through which EDF Energy secured contracts for 28 out of its 29 existing generating units.
The successful units included Dungeness B which secured a one year contract alongside the Sizewell B, Hinkley Point B, Heysham 1, Heysham 2, Hartlepool, Torness, Hunterston B nuclear power plants.
The generator is also expected to receive lucrative payments for nuclear power generated at its planned Hinkley Point C nuclear project at a rate of £92.50/MWh through the Contracts for Difference regime.
The investment in Dungeness B’s improvement projects has already included a £75 million upgrade to control room computer systems and £8 million on enhanced flood defence, EDF said.
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