The UK’s Wind Energy Experiment Is Paying Off In Big Ways
Energy from offshore wind just got a lot cheaper. The cost of subsidies for new offshore wind farms has halved to £57.50 per megawatt hour (MWh) since the last government auction in 2015, after two developers – Denmark’s Dong Energy and Spain’s EDP – bid aggressively for subsidy contracts to build new farms in 2022-23.
The results of the auction shocked industry analysts, who had expected prices to be around the £70-80 mark.
