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https://www.theguardian.com/environ...power-offshore-windfarm-costs-fall-record-low
Offshore windfarms will be built for a record low price in the UK early next decade, after developers bid far more aggressively than expected for a multimillion-pound pot of government subsidies.
Industry watchers had expected the guaranteed price for power from windfarms around Britain’s coast to come in somewhere between £70 and £80 per megawatt hour, below the £92.50 for a new nuclear power station at Hinkley Point.
But the “exceptionally low” results of a government auction on Monday for subsidy contracts show two offshore windfarms will be built for £57.50 per MWh, way below even the most extreme predictions. The price is half of what new offshore windfarms were being awarded just two years ago.
Offshore windfarms will be built for a record low price in the UK early next decade, after developers bid far more aggressively than expected for a multimillion-pound pot of government subsidies.
Industry watchers had expected the guaranteed price for power from windfarms around Britain’s coast to come in somewhere between £70 and £80 per megawatt hour, below the £92.50 for a new nuclear power station at Hinkley Point.
But the “exceptionally low” results of a government auction on Monday for subsidy contracts show two offshore windfarms will be built for £57.50 per MWh, way below even the most extreme predictions. The price is half of what new offshore windfarms were being awarded just two years ago.