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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. |