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Ministers unveil plans for faster approvals for nuclear and aviation fuel plants

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Ministers unveil plans for faster approvals for nuclear and aviation fuel plants



The Government has announced plans to speed up planning approvals for the Sizewell C nuclear project and a major sustainable aviation fuel (SAF) plant.

Ministers announced the Environment Agency will take the helm as a “lead environmental regulator” for the nuclear power station on the Suffolk coast as well as Lighthouse Green Fuels – a facility in Teesside that will produce green fuel for aeroplanes.

Usually developers have to work with multiple regulators, including the Environment Agency, Natural England, the Marine Management Organisation and Forestry Commission, which can be costly and cause delays to planning approval.

But the Environment Agency will now act as a single point of contact as the regulators carry out checks on the projects’ potential impact on nature.

The Environment Department (Defra) said the move will not lead to a watering down of green standards because the agency will co-ordinate with the other regulators on all the same assessments.

Ministers say Sizewell C could supply six million homes with nuclear energy, reducing England’s reliance on foreign fossil fuel imports and its exposure to volatile prices.

If approved, the Lighthouse Green Fuels project will become Europe’s largest SAF plant for so-called “second generation” fuels, which can be made from sources such as agricultural waste, forestry residues, municipal solid waste and used cooking oils – rather than food crops.

Environment Secretary Emma Reynolds said: “We are taking back control of our energy supply to bring stability for families and create skilled jobs for local people, without compromising on environmental protections.

“Global shocks from conflicts in Ukraine and the Middle East show that relying on a volatile global fossil fuel market is simply not sustainable for Britain.

“These measures are a win-win for energy security, nature and for keeping bills down in the long-run.”

It comes amid the Government’s wider efforts to remove almost all fossil fuels from the UK’s electricity generation by 2030, as well as overhaul the planning system to speed up the rollout of new energy and infrastructure projects.

Last month, Energy Secretary Ed Miliband unveiled plans to speed up new nuclear power projects by overhauling regulations and cutting costs as part of the Government’s response to an independent review, led by former Office of Fair Trading boss John Fingleton.

Ministers said they will implement some recommendations from the review by the end of the year, which includes appointing a lead regulator to reduce bureaucracy in the planning process.

While the Government will not carry forward the recommendation to water down regulations that protect the country’s most important habitats, green groups said concerns and uncertainties remain over how the reforms could affect environmental protections.

Mina Golshan, safety, security and assurance director at Sizewell C, said: “Simplifying regulation like this will lead to better outcomes for the environment, greater efficiencies for our project, and better value for consumers.

“It gives us a simple framework to build on our already constructive relationship with the Environment Agency – and we embrace the opportunity to demonstrate how regulation can work more effectively and efficiently for both project delivery and environmental protection.”

Noaman Al Adhami, UK country head for Alfanar Projects, the developers behind Lighthouse Green Fuels, said: “We welcome the opportunity to support Defra’s lead environmental regulator pilot, which represents an important step forward in streamlining engagement with statutory bodies and accelerating the delivery of major infrastructure projects.

“By enabling earlier, more co-ordinated regulatory input, this initiative will help unlock investment and support the timely progression of projects like Lighthouse Green Fuels as we advance towards construction.”



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Oil prices plunge as Iran says Strait of Hormuz ‘open’ during ceasefire

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Oil prices plunge as Iran says Strait of Hormuz ‘open’ during ceasefire



Brent crude sinks by a tenth after Iran says the key waterway is open for commercial ships for the rest of the ceasefire.



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Crude oil fall after reopening of Hormuz drains geopolitical risk from markets – SUCH TV

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Crude oil fall after reopening of Hormuz drains geopolitical risk from markets – SUCH TV



Oil prices tumbled on Friday after Iranian officials said they would allow commercial traffic to resume in the Strait of Hormuz. This lifted equity markets in Europe and New York, where major indices hit new records.

Citing the ceasefire between Israel and Lebanon, Iran’s Foreign Minister Abbas Araghchi said Tehran would lift its blockade on shipping through the key Gulf energy trade route.

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,” Araghchi said.

Traffic in the strategic waterway, through which one-fifth of the world’s crude oil normally flows, has been disrupted by Iran since the US-Israeli offensive began on Feb. 28. At one point, this sent oil prices to a peak of nearly $120 a barrel and roiled the global economy.

Both Brent, the benchmark international contract, and its US equivalent WTI fell below $90 per barrel following Tehran’s announcement. Brent later cut its losses and finished at $90.38 a barrel, down 9.1%.

‘Immediate impact’

“This news is having an immediate impact on markets,” said Kathleen Brooks, research director at XTB.

The move also sent a jolt through equity markets, extending a rally in New York. There, equities have pushed ever higher since late March in anticipation of a breakthrough in the Middle East crisis.

“We had seen a big move the last two weeks, and now it’s just really pricing completely out the worst-case scenario, said Angelo Kourkafas, from Edward Jones.

Kourkafas also pointed to underlying strength in the US economy that should get more attention in the coming period as geopolitical concerns ebb.

“Geopolitical developments are moving in the right direction, and at the same time, the earning strength is hard to ignore,” Kourkafas said.

The broad-based S&P 500 finished at 7,126.06, up 1.2% for the day and 4.5% for the week.

‘Good news’

Earlier, European stocks closed higher, with both Frankfurt and Paris gaining 2%.

US President Donald Trump cheered the reopening of the Strait of Hormuz in an interview with AFP.

“We’re very close to having a deal,” Trump said in a brief telephone call with AFP from Las Vegas. He added there were “no sticking points at all” left with Tehran.

But Iran quickly pushed back on one key point.

Iran’s foreign ministry said Friday that its stockpile of enriched uranium would not be transferred “anywhere.” It rejected an earlier claim by Trump that the Islamic Republic had agreed to hand it over.

Shipping industry figures, meanwhile, gave a cautious welcome to Iran’s announcement.

A spokesman for German transportation giant Hapag-Lloyd, which has ships stuck in the Gulf, told AFP by phone that the reopening was “in general… good news.”

But he cautioned that shippers still needed details of what route vessels could take and in what order, citing fears of mines.

“One thousand ships cannot just go now to the entrance of the strait, that will be chaos. They (the Iranians) need to give clear orders,” said the spokesman, Nils Haupt.

“We would be ready to go very soon if some of these open questions can be solved within the weekend.”



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Iran war causing staycation spike – Suffolk holiday firms

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Iran war causing staycation spike – Suffolk holiday firms



One man says he cancelled his holiday to Spain due to the rising costs and uncertainty.



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