The wind surprise is this: wind power will become even more expensive -- not cheaper as promised -- to make them "viable" so that they can help "save the planet." The proposed price of up to £95/MWh or about P6.55/kwh (at P69/£) wind generation cost alone. Transmission cost should be high because those onshore and offshore wind farms are far away from urban centers where power demand is high, or where electricity is more needed. See other reports here, enjoy.
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1. Electricity prices ‘must rise by 70pc to pay for more wind farms’
Warning from UK's biggest energy generator comes after latest bidding round received no offers to build new farms
By Jonathan Leake 25 October 2023
https://www.telegraph.co.uk/business/2023/10/25/electricity-prices-rise-70pc-pay-wind-farms-energy/
2. Offshore Wind Demands £95/MWh
By Paul Homewood October 26, 2023
https://notalotofpeopleknowthat.wordpress.com/2023/10/26/offshore-wind-demands-95-mwh/
3. Britain’s offshore wind industry is running out of puff
Key projects are buckling under the weight of spiralling costs and rigid planning rules
By Matt Oliver and Szu Ping Chan 25 June 2023
https://www.telegraph.co.uk/business/2023/06/25/britain-offshore-wind-industry-at-risk/
4. 1.4GW Wind Project in UK Cancelled as Costs Soared
by Bloomberg|William Mathis|, July 20, 2023
https://www.rigzone.com/news/wire/14gw_wind_project_in_uk_cancelled_as_costs_soared-20-jul-2023-173391-article/
5. As renewable-energy demand soars amid extreme heat, rising costs are making offshore wind projects so expensive that ‘it doesn’t make sense to continue’
BY WILL MATHIS AND BLOOMBERG. July 22, 2023
https://fortune.com/2023/07/22/offshore-wind-projects-nixed-due-to-costs-despite-clean-energy-needs/
6. Stalled coastal wind power projects imperil Biden’s climate agenda
Funding shortfalls are imperiling projects in New York, New Jersey and beyond.
By RY RIVARD and MARIE J. FRENCH 07/26/2023
https://www.politico.com/news/2023/07/26/climate-biden-offshore-energy-00107983
7. Dominion hides huge offshore wind cost risk
David Wojick July 31st, 2023
https://www.cfact.org/2023/07/31/dominion-hides-huge-offshore-wind-cost-risk/
8. One third of electricity demand supplied by sun, wind and water (on average, that is)
by Michel July 31, 2023
https://trustyetverify.wordpress.com/2023/07/31/one-third-of-electricity-demand-supplied-by-sun-wind-and-water-on-average-that-is/
"...Meaning that the difference between the lower and upper boundary will keep increasing over time. Basically, electricity production by solar and wind will at times start to exceed demand, while the need for backup at specific times of the year will stay high.
If we now just install three times as much, then we have more than twice too much at the peak and are almost 90% short at the lowest point."
9. Stalled coastal wind power projects imperil Biden’s climate agenda
Funding shortfalls are imperiling projects in New York, New Jersey and beyond.
By RY RIVARD and MARIE J. FRENCH 07/26/2023
https://www.politico.com/news/2023/07/26/climate-biden-offshore-energy-00107983
10. Offshore Wind Industry Is Caught In a Financial Hurricane
The question of who pays for the relatively high cost of generating power out at sea has become more contentious in an era of high inflation and interest rates.
1 August 2023
https://www.bloomberg.com/opinion/articles/2023-08-01/offshore-wind-industry-is-caught-in-a-financial-hurricane
11. There Is A Financial Crisis Brewing In Offshore Wind Energy
By Haley Zaremba - Aug 02, 2023
https://oilprice.com/Alternative-Energy/Wind-Power/There-Is-A-Financial-Crisis-Brewing-In-Offshore-Wind-Energy.html
12. Wind Industry Seeks More Support As Costs Spiral Out Of Control
By Irina Slav - Aug 09, 2023
https://oilprice.com/Alternative-Energy/Wind-Power/Wind-Industry-Seeks-More-Support-As-Costs-Spiral-Out-Of-Control.html
Tyler Durden Aug 30, 2023
https://www.zerohedge.com/markets/worlds-largest-offshore-wind-farm-maker-crashes-most-record-after-catastrophic-results
David Wojick September 6th, 2023
https://www.cfact.org/2023/09/06/support-for-offshore-wind-sinks-as-costs-soar/
15. Orsted Ready to Abandon US Wind Projects as It Asks for Help
‘We are still upholding a real option to walk away,’ CEO says
Danish developer’s shares have plunged about 37% this year
By Priscila Azevedo Rocha and Todd Gillespie
5 September 2023Updated on 6 September 2023
https://www.bloomberg.com/news/articles/2023-09-05/orsted-ready-to-abandon-wind-projects-as-it-calls-on-us-for-help
16. Offshore wind developers halt UK expansion over ‘uncompetitive’ prices
Net zero ambitions put in doubt after Treasury accused of ‘not listening’ to energy industry over growing global competition
By Emma Gatten 7 September 2023
https://www.telegraph.co.uk/news/2023/09/07/net-zero-offshore-wind-expansion-uk-developers-halt-prices/
17. Turbulent Times For Biden's Offshore Wind Farms As Orsted CEO Warns: Abandoning US Projects A 'Real Option'
Tyler Durden Sep 08, 2023
https://www.zerohedge.com/markets/turbulent-times-bidens-offshore-wind-farms-orsted-ceo-warns-abandoning-us-projects-real
18. Wind industry on hold after auction flop spooks developers
Bosses warn that lack of state support risks undermining Britain’s overall net zero goals
By Matt Oliver 17 September 2023
https://www.telegraph.co.uk/business/2023/09/17/wind-industry-on-hold-after-auction-flop-spooks-developers/
19. Desperate governors beg for offshore wind cost relief
David Wojick September 25th, 2023
https://www.cfact.org/2023/09/25/desperate-governors-beg-for-offshore-wind-cost-relief/
20. Beware the offshore wind oligarchy
David Wojick October 22nd, 2023
https://www.cfact.org/2023/10/22/beware-the-offshore-wind-oligarchy/
21. The Wind is Always Blowing Somewhere Fallacy
Roger Caiazza October 25, 2023
https://wattsupwiththat.com/2023/10/24/the-wind-is-always-blowing-somewhere-fallacy/
22. Profit At China’s Top Wind Firm Slumps 98%
By Charles Kennedy - Oct 26, 2023
https://oilprice.com/Latest-Energy-News/World-News/Profit-At-Chinas-Top-Wind-Firm-Slumps-98-As-Headwinds-Abound.html
23. Siemens Energy Shares Crash 37% As Renewable Bust Sparks 'Green Panic'
Tyler Durden Oct. 26, 2023
https://www.zerohedge.com/commodities/siemens-energy-shares-crash-37-renewable-bust-sparks-green-panic
24. Is The ESG Investing Boom Already Over?
By Alex Kimani - Jun 15, 2023
After peaking at $17.1 trillion in 2020, ESG assets in the United States dropped sharply to just $8.4 trillion in 2022.
Oil and gas companies are pushing back against activist proposals in their boardrooms.
https://oilprice.com/Energy/Energy-General/Is-The-ESG-Investing-Boom-Already-Over.html
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Meanwhile, here is my "Energy realism" (not alarmism) series and related papers in BusinessWorld, My Cup of Liberty:
Part 5 Sept 14, Why we need more coal, gas and nuclear power plants,
https://www.bworldonline.com/opinion/2023/09/14/545313/energy-realism-why-we-need-more-coal-gas-and-nuclear-power-plants/
Sept. 5, Economic basis of net zero is zero,
https://www.bworldonline.com/opinion/2023/09/05/543391/economic-basis-of-net-zero-is-zero/
Part 4 Aug. 17, Energy realism: Decarbonization and deindustrialization, https://www.bworldonline.com/opinion/2023/08/17/539962/energy-realism-decarbonization-and-deindustrialization/
Aug 3, Energy at SONA 2023 and electric cooperatives, https://www.bworldonline.com/opinion/2023/08/03/537440/energy-at-sona-2023-and-electric-cooperatives/
July 25, First year of Marcos: Assessing energy policies, https://www.bworldonline.com/opinion/2023/07/25/535715/first-year-of-marcos-assessing-energy-policies/
Part 3 July 13, Energy realism: Oil-coal consumption and NGCP’s delayed projects, https://www.bworldonline.com/opinion/2023/07/13/533840/energy-realism-oil-coal-consumption-and-ngcps-delayed-projects/
Part 2 July 5, Energy realism: G7, BRICS, and other big Asian economies, https://www.bworldonline.com/opinion/2023/07/06/532516/energy-realism-g7-brics-and-other-big-asian-economies/
Part 1 June 29, Energy realism: Raising consumption and economic growth,
https://www.bworldonline.com/opinion/2023/06/29/531213/energy-realism-raising-consumption-and-economic-growth/
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See also:
Energy 169, PH's WESM demographics, April 19, 2023
Energy 170, Electric cooperatives and NPC, May 07, 2023
Energy 171, Nuclear power plants, many are old but still working with zero accident, July 04, 2023.
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