RE: Renewables3 Mar 2025 21:02
Gas is by far and away the cheapest way to produce electricity currently (actually coal is cheaper but we closed the last powered power stations just as China passed 3300 of them)
The CFDs were all struck in auctions during the Ukraine war when gas ballooned to over £600, its back around £100 now but we are stuck with the contracts the government sold at those top rates. Of course they did this opportunistically because it briefly made providing infrastructure and connectivity for wind power viable.
In fact as the gas price sunk subsequent auctions for wind drew no bidders and we had to bribe them with 50% over gas prices which at the time were still historically very high
So we have paid a fortune for intermittent wind power that we are now paying millions of pounds per day to turn off when it's too windy. You could not make up how stupid out energy policy has been
Thankfully if the rumours are true, Mad Ed Millibrain is about to thrown under a bus as Stalin tries to square the circle of economic growth and warmongering with no fossil fuel use