Centrica has unveiled two significant strategic decisions that could have far-reaching implications for the UK’s energy landscape.
Firstly, the firm revealed its plan to extend the lifespan of Spirit Energy’s Morecambe Bay gas fields.
Originally scheduled to halt production in the middle of this decade, the gas fields will now continue to operate until the end of the current decade.
After more than three decades of production, the Morecambe Hub, one of the largest gas fields in the UK Continental Shelf, continues to hold a central position in Spirit Energy’s portfolio.
At its peak, it provided an estimated 20% of the UK’s domestic gas demand.
Centrica’s second move involves exploring potential investments in new nuclear projects. The energy giant said: “We may also be interested in investing in new nuclear, dependent on how the regulatory framework develops.”
Earlier this month, the government and the Energy Secretary officially launched the Great British Nuclear initiative at the Science Museum.
