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Interest rates:

Bank of England poised to raise interest rates to 4.25%

Surprise spike in inflation prompting Bank to take action

Czech EPH obtains provisional approval for UK power projects

Reuters
·1-min read
FILE PHOTO: Electricity pylons and a cooling tower from Eggborough power station are seen above a farmers' field in Kellingley

PRAGUE (Reuters) - Czech energy group EPH has obtained provisional 15-year new build contracts for a combined 1,700-megawatt power and a 299-megawatt battery storage project at the site of the former Eggborough coal station, the Czech company said on Tuesday.

The CCGT power project will be the single largest flexible generation asset to be commissioned in Britain since 2012 while the battery project will also be one of the largest built in the country, the company said.

"We are happy that with the investment of more than 1 billion pounds we can construct one of the most modern power plants in Europe and materially contribute to the security of supply in the UK,“ EPH board member Jan Springl said in a statement.

EPH, which owns power plants across Europe, entered the British market in 2015 when it acquired the coal-fired Eggborough power station.

(Reporting by Michael Kahn; Editing by Leslie Adler)

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