By Mathew Carr and Jeremy HodgesAn auction this year designed to encourage more renewable energy in Britain will probably for the first time see a winning price for offshore wind at wholesale rates, according to a fund manager at Investec.Under Britain’s contracts for difference (CFD) programme, generators get paid a fixed price, measured as the difference between the strike and a market reference. If the wholesale rate is at a higher level than the contract, generators pay the difference back, lowering costs for consumers. Contracts in the UK forward market, which sets the price of electricity many months into the future, range from about £33 a megawatt-hour to about £52. The level of incentives needed is dropping after technology costs have plunged.The strike level will probably be “highly competitive with the wholesale price, as next generation multi-megawatt turbines are likely to be used which will significantly reduce costs,” said Deirdre Cooper, who … [Read more...] about Auction spells end of subsidies for UK offshore wind
Contracts for difference uk
THE Scottish Government has given the green light to an offshore windfarm in the Outer Moray Firth.Together with the planning permissions for the associated onshore electricity transmission infrastructure which were granted earlier this year, the marine consent for Moray West completes the suite of consents necessary to allow the project to enter the UK Government’s next Contract for Difference (CfD) Auction, which will be held this summer.Subject to winning a CfD, construction on Moray West will begin in 2022. Moray West is a sister development to the adjacent Moray East Offshore Windfarm, which was granted consent in 2014 and is now under construction.Dan Finch, director of Moray West, said: "Moray West follows hot on the heels of Moray East, which is currently under construction and will supply power to the grid at less than half the price of offshore windfarms installed to date. Moray West is a vital part of the pipeline of projects necessary to support investment in the UK … [Read more...] about Go-ahead for Moray Firth windfarm
A CALL has been made for a fresh approach by the UK Government to encourage tidal energy projects such as MeyGen in the Pentland Firth.Otherwise they may not get beyond the prototype stage, according to Bill Mowat, Gills Harbour Ltd's director for marine renewables.He backs the move by 90 MPs, including Jamie Stone, urging the UK energy minister Claire Perry to reform the way public money is allocated to such schemes.They would prefer tax incentives rather than consumer-funded subsidies to help the industry.Mr Mowat fears that without changes tidal stream energy could fail to get beyond the prototype stage, as happened in Caithness before with fast reactor technology at Dounreay."I agree 100 per cent with the MPs that a fresh approach to encouraging tidal stream technologies is necessary and the forthcoming Energy White Paper is the right place to start," he said."At present, the UK has the world lead in tidal stream know-how, but China, France and Canada are vying to topple us from … [Read more...] about Call for a fresh approach to encourage tidal energy projects
0 Post a comment Saturday, 6 April 2019 - Politics by A Reporter - Reporter [email protected] Talks will take place with the UK Government to see if it would support any renewable energy projects in Manx waters. But Manx Environment Minister Geoffrey Boot admitted his Westminster counterparts had more pressing matters at the moment, with the Brexit fiasco.He was responding to a House of Keys question from Lawrie Hooper (LibVannin, Ramsey) who wanted to know whether schemes in Manx waters would qualify for the UK Contract for Difference scheme, which supports low-carbon energy projects.Mr Boot said it did not but added: ’In August 2014 the UK issued a document, Contract for Difference for Non-UK Renewable Electricity Projects, which considered the benefits of supporting renewable electricity projects located outside of the UK.’I have raised this matter personally with the relevant UK ministers on at least three occasions, discussing eligibility of Isle … [Read more...] about Could UK support a Manx wind farm?
Highlands & Islands 19 March 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/uk-scotland-highlands-islands-47625167 Read more about sharing. These are external links and will open in a new window Close share panel Plans to lay a £709m subsea electricity cable from Shetland to the Scottish mainland have been … [Read more...] about Green light for islands’ £709m subsea link