A single offshore wind farm is set to cost £2.5 billion in subsidies over its 20 year life-span, shocking figures reveal.
Newly constructed Rampion wind farm, off the Sussex coast, consists of 116 turbines.
The project’s HQ was opened this week by hard-hat-toting Maria Caulfield MP.
Guido wonders whether she is aware the project is a black hole for bill payer’s money…
According to analysis by the Global Warming Policy Forum, the project will qualify for about £126 million a year in public subsidies over two decades (under legacy arrangements made before the cancellation of the Renewables Obligation).
Furthermore:
“The wholesale price of the electricity will only add about another £60 million a year, so roughly two thirds of the annual income of the project will be non-market public support.”
The return on the huge investments involved will mostly come from the public purse, not from selling electricity…
Moreover, an equivalent investment in gas-fired power plants could generate three times as much energy, subsidy-free. And they work all the time, on demand…
Read more at Guido Fawkes
See more analysis by the GWPF
How many seabirds will maimed by these things the same nature freaks who oppose Oil Dericks as spoiling their view of the ocean what do they say about these things
Higher electricity prices are hard on seniors, even adding to their health issues associated with lung problems due to using candles when their power is cut off.
Its very good for the friends and families of the politicians since these elites are getting 100’s of millions a year.