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Power station begins closure consultation Power station begins closure consultation
(35 minutes later)
The owners of Eggborough Power Station have said it will stop generating power in March 2016, subject to consultations with staff and "government bodies".The owners of Eggborough Power Station have said it will stop generating power in March 2016, subject to consultations with staff and "government bodies".
The 53-year-old coal-fired power station, near Selby, North Yorkshire, employs around 240 people.The 53-year-old coal-fired power station, near Selby, North Yorkshire, employs around 240 people.
The company said it required additional funding of £200m over the next three years to continue generating power.The company said it required additional funding of £200m over the next three years to continue generating power.
It said it could not rule out some redundancies, though some roles might be required to support decommissioning.It said it could not rule out some redundancies, though some roles might be required to support decommissioning.
Neil O'Hara, chief executive of Eggborough Power Ltd, said the company was facing an unsustainable financial position due to a combination of market and regulatory conditions, including falling power prices.
He said: "We intend to conduct a thorough consultation process with our employees and their representatives while we continue to consider all options available to us, including seeking to engage with government bodies."
He added the decision had not been taken lightly, given the station's "proud history and dedicated workforce".
The company said the 2,000 MW power station has the potential to power two million homes - around four per cent of UK properties.
The station had previously failed in its attempts to gain support from government to convert to biomass.