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Elsewhere in the energy world, the owner of British Gas has agreed to buy the Severn gas power plant in South Wales for approximately £370m almost six years after its previous owner went bust.
Centrica described its new acquisition as one of the most efficient gas plants in the UK, and said that it would play “a critical role” in stabilising the UK’s electricity system.
“The importance of reliable, flexible generation to balance the system continues to increase, keeping energy supplies secure and affordable as the energy transition progresses. Severn will play an important role in supporting that journey.
With the delivery of replacement capacity being impacted by grid access, rising costs and supply chain constraints, alongside the closure of aging gas assets towards the end of the decade, the need for assets like Severn will increase.”
On March 18, 2026, an attack on Ras Laffan Industrial City (Qatar) damaged one of the two trains at the Pearl GTL facility, resulting in a limited write‑off recognised within depreciation in the first quarter 2026.
It is currently anticipated that the full repair of the damaged train will take around one year.
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