OFFSHORE windfarms look set to offer significantly better value for money than the cost of nuclear power agreed with energy firm EDF for Hinkley Point C, according to the chief executive of RenewableUK. While offshore wind continues to drop in price as more money is invested in it – costs have fallen by around a third over the last four years – the 35-year deal with EDF sets the price of nuclear power at more than twice the current retail price of electricity. This is expected to rise further when inflation and soaring Brexit-related costs are taken into account. Hugh McNeal, a former civil servant in the now abolished Department for Energy and Climate Change (DECC), said the decision by ministers to end subsidies for onshore wind farms had been hard for the industry and the building of new turbine s on land was expected to grind to a halt after next year. Green energy subsidies are paid through energy bills, but MPs had criticised as “shambolic” government efforts to communicate the impact on consumers. McNeal said he expected that offshore windfarms would secure a deal with the Government which was lower than the £92.50 per megawatt hour agreed with EDF for Hinkley Point C.
The National 14th Feb 2017 read more »
Offshore windfarms look set to provide significantly better value for money than the extravagant cost of nuclear power agreed with EDF for Hinkley Point C – according to leading expert Hugh McNeal, chief executive of RenewablesUK.
Scottish Energy News 14th Feb 2017 read more »
Business Green 13th Feb 2017 read more »