But the “exceptionally low” results of a government auction on Monday for subsidy contracts show two offshore windfarms will be built for £57.50 per MWh, way below even the most extreme predictions. The price is half of what new offshore windfarms were being awarded just two years ago. UK windfarms cheaper than Hinkley Point, experts claim Read moreCaroline Lucas, the party’s co-leader, said: “This massive price drop for offshore wind is a huge boost for the renewables industry and should be the nail in the coffin for new nuclear. Matthew Wright, the managing director for Dong Energy UK, said: “This is a breakthrough moment for offshore wind in the UK and a massive step forward for the industry.” The industry body, RenewableUK, called the prices “astounding”. Ministers have allocated a further £440m-a-year for further auctions to be held before 2020, but have not confirmed when these might happen.

Source: The Guardian September 11, 2017 06:55 UTC