12 Sep '17, 7pm

Low UK Offshore Wind Prices Rattle Incumbents: 'People Are Trying to Put Their Jaws Back in Place' | Greentech Media

Low UK Offshore Wind Prices Rattle Incumbents: 'People Are Trying to Put Their Jaws Back in Place' | Greentech Media

U.K. nuclear and gas generators have been put on alert after offshore wind showed it could beat them on price this week. “Today’s results mean that both onshore and offshore wind are cheaper than gas and nuclear,” said Hugh McNeal, chief executive of the U.K. renewable energy trade association RenewableUK, following the outcome of competitive auctions, which yielded record-low prices. Two offshore wind projects, Hornsea 2 and Moray, emerged with a price of just £57.50 (USD $76.34) per megawatt-hour, while a third, Triton Knoll, came in at £74.75 ($99.22). The prices, down by as much as 51 percent compared to the average in the U.K.’s last subsidy round in 2015, were cheaper than the levelized cost of gas, based on figures from the U.K. Department of Business, Energy and Industrial Strategy (BEIS), RenewableUK said in a statement . They also undercut the cost of new nuclear...

Full article: https://www.greentechmedia.com/articles/read/low-uk-offsh...

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