Fri, 09 May 2014 | DIVISION SALE
Owner Centrica has placed the Langage power station, that sits on the edge of Plymouth, Devon, along with two others on the market.
The trio have been given a combined value of £500 million and are based at Langage, Humber and Killingholme, with a combined energy capacity of 2.7GW. They all operate on the open market, but with “low levels of utilisation”.
An interim business update from Centrica stated its aim is to release funds from its larger power stations and concentrate its investment into UK gas-fired power generation at smaller plants.
The decision comes after experiencing tough market conditions over the past 12 months both in Britain and overseas. It blamed lower energy usage due to mild weather in the UK, and extreme weather in the US leading to large one-off costs in the first quarter. Other contributing factors were the recent focus on the energy sector and increased competition for energy supply in the UK.
The construction of Langage, a combined-cycle power plant, was ordered by Centrica and expected to finish in early 2009, but it finally opened in March 2010 after problems with its internal pipework. The construction was estimated to have cost about £400 million.
Shares in Centrica fell three per cent after issuing its second profit warning in six months. It admitted it had lost 180,000 customers from its domestic business British Gas. Despite wholesale energy costs having dropped, the utility supplier raised its prices in the autumn, but intends not to increase its prices this year.
______________________________________________________________________
Related information:
Guy Hands to sell off green energy business
Established approximately 5 years ago, the company is a highly regarded recruitment agency based in the East of England. The company serves the HGV logistics, construction, mechanical and electrical services (M&E), and criminal justice sectors, offer...
An opportunity exists to purchase the business and assets of a leading temporary recruitment company operating in Northern England and the South Coast of England. The company has an established trading history providing temporary staff to the logisti...
An opportunity to acquire the business and/or assets of an IT Training provider based in the South East.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.