Offshore Wind Farms Still Being Subsidised Under CfD, Despite Higher Market Prices

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By Paul Homewood

https://eciu.net/media/press-releases/2022/cheap-wind-to-pay-back-26bn-in-future-gas-crisis

The renewable lobby were quick to tell us when CfD contracts started briefly to repay money to consumers, when power prices peaked at the end of last year. But they are silent now that very short period has ended.

Since the beginning of April, as wholesale power prices have eased, the negative subsidies have disappeared, and energy consumers are once  again paying subsidies to renewable generators, notably offshore wind farms.

From  1st April to 13th June, the total cost of subsidies under Contracts for Difference have cost consumers £57 million. True, this is considerably less than historically, but consumers are also, of course, instead paying much more because of high market prices – it’s a case of being burnt or scalded! Either way, the consumer pays through the nose.

In any event, these amounts are dwarfed by the main subsidy scheme for renewables, Renewable Obligations, which will cost us all £6.6 billion this year.

But you won’t hear that from the green billionaire funded ECIU!

via NOT A LOT OF PEOPLE KNOW THAT

JUNE 23, 2022

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