Revenues more than halve at Eggborough power station
Revenues have more than halved at Eggborough Power Limited as the decommissioning of the coal-fired power station is being carried out.
For the 12 months ending 31 December, the company – which runs Eggborough Power Station – reported revenues of £106m which is significantly lower than the £220m achieved at the same period the year before.
Eggborough Power also reported an operating loss of £20m, with an overall loss for the financial period of £19m.
The Goole power station announced earlier this year that it had failed to secure funding through the “capacity market” for 2018-2019. This is a process which pays suppliers to be available to provide electricity so the lights don’t go out.
However, just last month, permission was granted to develop a new gas fired power station on the site of a coal power station.
Eggborough, which included four units and supplied 5% of the power in the UK, began operations in 1970 and was originally supposed to have a 25-year life span.
The Secretary of State for Business, Energy and Industrial Strategy has granted development consent to Eggborough Power Limited to develop the new gas fired power station – saving the site.
Construction of the new gas fired power station could commence as early as mid 2019, creating up to 1,200 construction jobs with a further 70 permanent operational jobs once the plant becomes operational.
