20th Nov 2006 07:05
CENTRICA PLUGS INTO 400 MEGAWATTS OF DUTCH POWER Centrica plc today announced that it has signed an agreement giving it therights to the entire output of a planned 400 megawatt power station to be builtby InterGen in the Netherlands. The tolling arrangement will run for 15 yearswith an option to extend for a further five. InterGen is intending to build, own and operate the proposed gas-fired plant,"Rijnmond 2" near Rotterdam, on the same site as its existing 800 MW gas firedplant "Rijnmond 1". InterGen has gone out to tender on an engineering, procurement and constructioncontract which is scheduled to complete by September 2009 with first outputexpected in 2009 -10. Under the contract signed by Centrica and InterGen, once construction iscomplete, Centrica would supply the gas required to fuel the plant and wouldhave the rights to the entire output. In the Netherlands Centrica already owns Oxxio, a gas and electricity supplierwith approximately 640,000 customers. The Rijnmond 2 plant would be a valuableaddition to this business; its power output would be equivalent to approximately80 per cent of Oxxio's current peak electricity demand. Centrica views the Netherlands as a key market, given its proximity to the UK,which is being liberalised more quickly than elsewhere in Continental Europe. Jake Ulrich, Centrica's managing director of Europe, said: "Rijnmond 2 will be a highly efficient and low cost generation asset tocomplement our Oxxio business. "This deal strengthens our business partnership with InterGen and builds on ourcurrent tolling agreement with their 860MW capacity power station at Spalding inthe UK." Inquiries: Mike Dennehy, Centrica media relations, 01753 494 086 Kieran McKinney, Centrica investor relations, 01753 494 900 Notes to editors: 1. Centrica has lower CO2 emissions per sale than its main competitors and isthe largest supplier of green electricity to UK customers through its BritishGas brand. It also has the lowest emitting fleet of power stations of any majorenergy supplier and is developing the UK's newest and most efficient gas firedpower station at Langage in Devon. Our renewable investment of around £750m anda project which could see the lowest emitting fossil fuelled power station everseen in the UK will continue to help reduce Centrica's carbon footprint. 2. Centrica owns British Gas, the UK's biggest household gas and electricitysupplier with approximately 16.6 million customer accounts as at end June 2006. 3. Centrica already has a 17 year tolling agreement with InterGen in the UK,giving it the rights to the 860MW capacity at Intergen's gas-fired power stationat Spalding, Lincolnshire. 4. InterGen is a joint venture between Ontario Teachers' Pension Plan and AIGHighstar Capital II. 5. The Netherlands is the fourth biggest gas market in Western Europe withannual consumption of approximately 50 billion cubic metres (bcm). It is at thecentre of European gas flows and plays a key role in the transportation of gasto the UK. Copyright Business Wire 2006Related Shares:
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