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Energy from offshore wind in the UK will be cheaper than electricity from new nuclear power for the first time.
The cost of subsidies for new offshore wind farms has halved since the last 2015 auction for clean energy projects
Two firms said they were willing to build offshore wind farms for a subsidy of £57.50 per megawatt hour for 2022-23.
This compares with the new Hinkley Point C nuclear plant securing subsidies of £92.50 per megawatt hour.
Nuclear firms said the UK still needed a mix of low-carbon energy, especially for when wind power was not available.
Both nuclear and wind receive subsidies, but for the first time wind is coming to market with less, so providing the same electricity with less cost to the public than nuclear.
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Offshore Wind Power Cheaper Than New Nuclear
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It's raisins that make Post Raisin Bran so raisiny ...
(Score: 5, Interesting) by Snospar on Tuesday September 12 2017, @04:16PM (1 child)
No, I live in a time where evil money grabbing bastards are encouraged to gouge their customers and get away with it.
The energy companies are making record profits [theguardian.com] while claiming that all the money is invested in "Green" energy or paid to the government in taxes. The figures show otherwise.
Worst of all, with their complex multi-tariff billing schemes they are overcharging customers over £1.4 billion every year - how nice of them as we transition our savings into their wallets.
Huge thanks to all the Soylent volunteers without whom this community (and this post) would not be possible.
(Score: 2) by Phoenix666 on Tuesday September 12 2017, @05:43PM
They know the centralized party is coming to an end. Bond rating agencies downrated their debt a couple years ago, because the built infrastructure that was always the foundation of their monopoly is expensive to maintain and will turn into a millstone around their necks as customers disconnect from the grid, or worse, start to produce a surplus that the utilities have to buy.
If you can, it would be wise to go off-grid sooner rather than later to avoid becoming the guy who's gouged to maintain company profits amid a shrinking pool of customers.
Washington DC delenda est.