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Industry News

TXU Mothballs Generation in UK Portfolio

LCG, Jan. 14, 2002--Citing falling wholesale prices and overcapacity in the UK power market, TXU will mothball part of two generating plants first commissioned over thirty years ago.

Wholesale power prices in the UK have dropped roughly 25 percent with the institution of the New Electricity Trading Arrangements (NETA) in March 2001. The NETA represents a more competitive market structure than the former England and Wales Electricity Pool of old. This, plus "specific issues of age, efficiency, reliability and maintenance requirements" were mentioned by Martin Stanley, TXU's president of trading and production, by way of explanation.

TXU, which negotiated the sale of the 2,000-megawatt West Burton power plant to Electricite de France for 366 million pounds ($530 million) two months ago, left open the possibility that generators at the Drakelow C and High Marnham plants could be brought back into service if the market warrants the move. The effect of mothballing the two plants will be to withdraw 522 megawatts from the UK market, which leaves more than 99 percent of the former capacity total intact.

Reuters reported that Paul Taylor, vice president of UK power trading did not foresee any additional generators being mothballed.

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