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UK’s offshore wind farms cheaper source of electricity than nuclear power stations

Offshore windfarms set to become cheaper source of electricity than nuclear power stations
Government’s plan to turn UK into world leader in offshore wind energy receives boost as electricity price halves in five years The Independent, Ian Johnston Environment Correspondent  @montaukian 9 Mar 17 Offshore windfarms are set to become a cheaper source of electricity than the Hinkley Point nuclear power plant and are also on track to undercut coal-fired power stations.

The Government, which has been trying to support offshore in the hope of turning the UK into a world-leader in the sector, plans to hold an auction next month in which generators will bid for a guaranteed price for their electricity, with the lowest offer declared the winner…….

• Offshore wind in Europe cost about £190/mwh in 2012, according to Bloomberg New Energy Finance, but this figure has nearly halved in the last five years to just over £100/mwh.

  And now the industry is now predicting the UK will see offshore wind become cheaper than some of the more traditional sources of power generation.

  While the Government has an official policy against onshore wind, it has sought to promote the more expensive offshore turbines, partly because of the chance to establish a new industry in the UK based on the expertise developed by the North Sea oil and gas industry. It appears this may be starting to pay off years earlier than anyone expected…….

• The UK auction to be held next month is open to technologies considered to be “less established”, such as offshore wind, biomass, wave and tidal schemes.

  A spokesperson for the Department for Business, Energy and Industrial Strategy said: “Offshore wind and clean growth is an important part of the Government’s industrial strategy and will be underpinned by £730m of annual support for renewable energy over the course of this Parliament, helping us meet our climate change commitments, deliver skilled jobs and drive growth across the county.” http://www.independent.co.uk/environment/offshore-windfarms-cheaper-electricity-energy-source-nuclear-power-stations-coal-a7620791.html

March 11, 2017 - Posted by Christina Macpherson | renewable, UK