Utilities giant SSE has announced that power generation at its Glendoe hydro electric scheme, near Loch Ness, has re-started three years after a rock fall occurred in one of the tunnels.
Three gigawatt hours (GWh) of electricity have already been produced and exported to the transmission network.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Paul Smith, Managing Director of Generation at SSE said: "The work to restore electricity generation at Glendoe has been undertaken in a very rigorous way to make sure that this strategic asset meets its original design criteria and is ready to play its full part in supporting the country's electricity system for many decades to come.
"We will continue to monitor closely the performance of Glendoe to make sure that the reconstruction work has been fully successful, ensuring sustainable generation at the site, similar to that achieved at our other schemes such as Sloy on Loch Lomond which is still generating power more than 60 years after being commissioned."
Glendoe's main operational feature is that it is able to start generating electricity at full capacity in just 30 seconds, meaning it can meet changes in demand. In a year of average rainfall, its output should be around 180GWh of electricity.
The share price rose 1.33% to 1,375p by 14:37.
NR
-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
