From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

h/t idau

Ireland has just run the latest auction round its equivalent of our CfD scheme:

The figure is nearly 20% below what was procured in the fourth Renewable Electricity Support Scheme auction, RESS 4, a year ago.

The Republic of Ireland’s fifth Renewable Electricity Support Scheme (RESS 5) has concluded, with around 1.08GW of capacity procured, the government said in the scheme’s provisional results announcement.

The auction secured 218.84MW of onshore wind capacity and 860.38MW of solar PV capacity, totalling a combined 1,079.22MW of renewable capacity, spread across 23 projects.

The RESS 5 auction had a Weighted Average Price of €98.81/MWh, a small increase from €96.85/MWh in RESS 4. Solar’s strike price was down 4% to €100.63/MWh while wind’s was up almost 7% to €96.56/MWh. 

Full story here.

These prices are exceptionally high, even by UK standards.

€96.56/MWh for onshore wind equates to about £84/MWh. Last year’s AR6 set prices here at about £73/MWh at today’s prices for onshore and about a pound less for solar.

AR7’s Administrative Strike Prices are £92/MWh, so it would appear we will definitely be paying a lot more than in AR6 last year.