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Investing.com -- Centrica (LON:CNA) on Tuesday confirmed that the Heysham 1 and Hartlepool nuclear power stations in the UK have been granted a one-year life extension, allowing operations to continue until March 2028.
The British energy and services company owns 20% of both plants, with the remainder held by EDF.
The extensions are expected to add around 3 terawatt hours of extra generation. The company said the decision followed a licensee board meeting on September 1, where inspection results of the graphite cores in 2025 supported the case for continued operations.
Heysham 1, located in Lancashire, has a capacity of 1.1 gigawatts, while Hartlepool in County Durham has a capacity of 1.2 gigawatts. Both plants form part of Centrica’s stake in the UK’s nuclear energy mix.
Jefferies described the development as a small positive for Centrica’s stock, estimating a 1% to 2% boost to its market capitalization.
The brokerage has maintained a “buy” rating on the shares, which closed at 159.60p in the prior trading session, with a price target of 200p. Centrica’s market capitalization stands at £9.2 billion.