Global Markets

Price of UK wind energy halved in the last two years

The cost of subsidising offshore wind farms in the UK has halved in the past two years.
By Staff reporter 12 September 2017 0 27545

The cost of subsidising offshore wind farms in the UK has halved in the past two years, the latest government auction showed on Monday.

Two offshore wind farms set to start providing power in 2022-2023 were awarded contracts with a guaranteed price of £57.50/MWh ($76.3/MWh) for 15 years of production.

The ‘strike price’ secured by the planned Hinkley Point C nuclear power plant is £92.50/MWh (in 2012 prices).

In the last subsidy round in 2015, offshore wind farms were awarded an average of £117.14/MWh.

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