shows the energy market is no meritocracy.
Interesting to note today's offshore wind price was so low, BEIS is only committing 60% of its <£295m budget (<£176m max cost, in 2023/24)https://twitter.com/DrSimEvans/status/907125012745912321 …
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With lower prices, could there be the potential that BEIS relax the 4GW capacity limit as they have more budget spare for future auctions?
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It will also be that remaining projects were to big/ too highly priced to clear
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Which other big projects would those be? I thought there were only 3 offshore wind ones
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On this showing, BEIS could run an auction with *just* the £120m left over and get another 2GW.
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The other £440m would get you another 5GW, giving 10GW for £730m. Result.
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@cwhope Even the BBC have picked up on this: Offshore wind power cheaper than new nuclear'https://twitter.com/BBCScienceNews/status/907165858711076864 …Thanks. Twitter will use this to make your timeline better. UndoUndo
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@cwhope So does this put more pressure on HinckleyC, or is EDF claim about future nuclear pricing credible? -
EDF saying future nuclear will be cheaper. Maybe…let's see it first. SMR more likely and even that's speculative – not yet commercial.
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