Articles filed under Impact on Economy from UK
Dr John Constable, the director of REF, said: "Uncontrollable and heavily subsidised generation such as wind-power has made the UK electricity system into a costly and dysfunctional joke. "High winds, low winds – whatever the weather, the consumer suffers. It's almost the only thing about wind that is reliable."
Judge Sophie Buckley said: ‘There is an extremely strong public interest in enabling scrutiny of the data, models and calculations which underpin the CCC’s conclusion that the net zero target could be met at an annual resource cost of up to 1-2 per cent of GDP. ‘Any errors in the calculations that led to the CCC’s conclusions, which, in turn, led to the legislative change, have the potential to have a very significant impact on the lives and finances of large numbers of people, on the spending of large sums of public money, and on the policies of the UK Government over the next 30 years.’
A three-day online public inquiry will take place over the planned compulsory purchase (CPO) of land, including part of Carnoustie’s famous golf links, for work associated with what will become Scotland’s largest offshore wind farm.
Electricity bills could double to bail out new wind farms that have massively underestimated their operating costs, a former adviser to the World Bank has claimed. Two offshore wind projects secured contracts to supply renewable energy at reduced costs in 2017 and it was hailed the result of huge strides made in technology and engineering, sparking hopes of a green jobs boom.
Prospect, the union which covers much of the sector, has found a 30% drop in renewable energy jobs between 2014 and 2017, as government cuts to incentives and support schemes started to bite. It also found investment in renewables in the UK more than halved between 2015 and 2017.
The document claims that ‘it has been widely assumed that the underlying costs of offshore wind are falling and that the CfD prices indicate a sudden paradigm for the technology’. Yet, the report points to statistical analysis of the data, covering 86 wind farms, which suggests that the capital cost of offshore wind (£/MWh installed) is not in actual fact falling, but actually rising as a consequence of companies moving into deeper and deeper waters.
Highland-based industry watcher Stuart Young said: "I was disgusted how people were crowing about how much electricity had been generated by wind when customers are going to be hit so hard in their pockets. "The number of megawatt hours wasted - constrained off - was 46,150.
Highland anti-windfarm campaigner Lyndsey Ward said: “These are mind-boggling sums of money that enriches the already wealthy wind multinationals to not generate electricity – and it comes out of our pockets. “It’s time to end this madness.”
Thanks to government policies deliberately distorting the market, we have over-invested in wind and solar. It has blighted investment in reliable capacity that can keep the lights on. This is the crux of Britain’s energy crunch. Clearly it was a colossal mistake to have embarked on renewables with storage unsolved.
As more wind farms sprout up in Scotland an increasing amount of subsidy is being paid. The £51.5million subsidy paid to wind farms is more than double the £22.7million paid over the same three months last year.
Start with a suite of renewable-energy policies that keep ratcheting up electricity costs. The so-called renewables obligation, which requires utilities to buy a steadily increasing share of their power from trendy green sources such as solar and wind, is driving up wholesale power prices. So is the feed-in tariff, which forces utilities to pay a minimum rate for renewable electricity that’s higher than the cost of fossil-fuel-fired generation.
As many as 73% of manufacturers want to see legislative reform of the UK's current environmental and climate change policies, according to a new survey by the manufacturers organisation EEF. Respondents claimed that existing regulations are harming their international competitiveness.
“We can’t have a situation where industry has a blank check, and that check is paid for by people’s bills”
Under the scheme, everyone – from a household who decided to put a solar panel on the roof to the developer of an offshore wind farm – was guaranteed a premium on top of the market price for electricity, to help encourage the development of renewables. ...due to a decline in the wholesale price of oil and gas, as well as higher than expected installation of home solar panels, this budget of £7.6bn per year has already been busted by more than 20 per cent.
An average household is expected to pay as much as £250 more for electricity – mainly through consumer subsidies – to pay for the Government’s green energy schemes, while an electrically heated house could be as much as £440 a year worse off.
Former environment secretary, Owen Paterson, will argue that the 2008 Climate Change Act, which ties Britain into stringent targets to reduce the use of fossil fuels, should be suspended until other countries agree to take similar measures. If they refuse, the legislation should be scrapped altogether, he will say.
Ministers cut forecasts of gas prices for the rest of the decade by as much as a fifth, meaning green energy will remain relatively far more costly. ...“Year after year [energy secretary] Ed Davey has been banging on that one of the core reasons [for backing green energy] is to protect ourselves against inevitably high and volatile fossil fuel prices. Now their own forecasts are saying fossil fuel prices are going to be very affordable,” he said.
By awarding them early, and using more than half the budget for the contracts in the process, the government has hampered price competition, reduced the opportunity to test the market and failed to defend consumer interests, the Committee of Public Accounts said. The beneficiaries include Drax Group Plc, Dong Energy A/S, SSE Plc, Statoil ASA and Statkraft AS.
Green policies imposed by Brussels are endangering 1.5m UK jobs by saddling manufacturers with high energy costs. A report published on Wednesday says that EU policies are to blame for up to 9 per cent of costs on energy bills for industrial companies and warns this could rise to 16 per cent by 2030.
Britain’s biggest energy supplier also revealed it was scrapping plans for a massive multi-billion pound wind farm in the Irish Sea, suggesting the UK should cease building expensive offshore turbines for at least a decade to prevent high costs pushing up consumer bills.