112227
  • Log in
The Daily Sceptic
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Forum
  • Donate
  • Newsletter
The Daily Sceptic
No Result
View All Result

Wind Farms Game System to Earn Hundreds of Millions in Government Subsidies From Energy Crisis

by Toby Young
2 May 2022 3:30 PM
Wind Farms Game System to Earn Hundreds of Millions in Government Subsidies From Energy Crisis

According to a new analysis, the taxpayer could be half-a-billion pounds worse off due to a recently revealed delay at just one wind farm. GB News has more.

The Government has urged developers to “act fairly” after some of the U.K.’s largest wind farms delayed taking up ‘green’ Government contracts, potentially allowing them to earn hundreds of millions of pounds more from consumers during the energy crisis.

According to a new analysis, the taxpayer could be half-a-billion pounds worse off due to a recently revealed delay at just one wind farm, which generous “green” Government contracts allowed for.

Leading Tory MPs told GB News the revelations showed the Government’s energy strategy was “in tatters”.

No new wind farms have begun selling electricity to the grid at “low cost” subsidy deal prices, agreed with the Government, at expected dates since the energy crisis began – instead selling at higher market prices, GB News can reveal.

The Government guaranteed the income of all new offshore wind farm developments with so-called Contracts for Difference (CfD), part of a wider push to encourage investment in Net Zero.

The contracts mean consumers pay windfarms a subsidy if market prices are low, and wind farms pay money back if they are high.

Since the start of the energy price crisis, several newly completed wind farms have delayed taking up their CfDs, pushing them back by a year from dates listed on the database of the Low Carbon Contracts Company, which manages subsidy deals for the government.

There is no suggestion that the developers are doing anything wrong. CfD contracts allow delays of up to three years and are generally flexible and generous to developers.

But critics of government policy told GB News CfDs mean the bulk of financial risk is put on consumers, not investors. And by allowing for delays, the government has allowed developers to earn massive extra profits as consumers struggle to pay bills.

In fact, since energy prices soared last autumn, no new renewables capacity has been added to the CfD scheme. Every renewable generator that had been expected to start selling at a CfD price 2022 has now been delayed until 2023, and they could push the date back even more.

This means power is being sold to consumers more expensively than expected despite the government giving assurances that wind farms backed by CfDs are cheap and bring prices down.

Worth reading in full.

Tags: Energy crisisGreen SubsidiesWind Farms

Donate

We depend on your donations to keep this site going. Please give what you can.

Donate Today

Comment on this Article

You’ll need to set up an account to comment if you don’t already have one. We ask for a minimum donation of £5 if you'd like to make a comment or post in our Forums.

Sign Up
Previous Post

“They Were Dishing the Sedatives Out Like Smarties”: Cornwall’s Care Home Scandal

Next Post

Amazon Axes Paid Covid Leave as it Returns to “Pre-Pandemic Policies”

Subscribe
Login
Notify of
Please log in to comment

Profanity and abuse will be removed and may lead to a permanent ban.

40 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

NEWSLETTER

To view today's newsletter click here

To receive our latest news in the form of a daily email, enter your details here:

DONATE

LISTED ARTICLES

  • Most Read
  • Most Commented
  • Editors Picks
Saudi Arabia Jails Leeds University Student for 34 Years For Thought Crime

Saudi Arabia Jails Leeds University Student for 34 Years For Thought Crime

17 August 2022
by Toby Young
News Round-Up

News Round-Up

17 August 2022
by Jonathan Barr
Lies, Damned Lies, Statistics – and Computer Models

Lies, Damned Lies, Statistics – and Computer Models

17 August 2022
by Chris Morrison
RAF ‘Pauses Job Offers For White Men’ to Meet ‘Impossible’ Diversity Targets

RAF ‘Pauses Job Offers For White Men’ to Meet ‘Impossible’ Diversity Targets

17 August 2022
by Toby Young
The U.S. Are Not the Good Guys

The U.S. Are Not the Good Guys

17 August 2022
by Noah Carl
RAF ‘Pauses Job Offers For White Men’ to Meet ‘Impossible’ Diversity Targets

RAF ‘Pauses Job Offers For White Men’ to Meet ‘Impossible’ Diversity Targets

34

News Round-Up

42
News Round-Up

News Round-Up

16
Saudi Arabia Jails Leeds University Student for 34 Years For Thought Crime

Saudi Arabia Jails Leeds University Student for 34 Years For Thought Crime

16
The U.S. Are Not the Good Guys

The U.S. Are Not the Good Guys

21
Can Nuclear Energy Save Europe?

Can Nuclear Energy Save Europe?

18 August 2022
by Noah Carl
The U.S. Are Not the Good Guys

The U.S. Are Not the Good Guys

17 August 2022
by Noah Carl
Woke Medicine Abandons Meritocracy and Sense

Woke Medicine Abandons Meritocracy and Sense

15 August 2022
by Noah Carl
No, the Arctic isn’t Warming Four Times Faster Than the Planet

No, the Arctic isn’t Warming Four Times Faster Than the Planet

14 August 2022
by Chris Morrison
The Argumentum Hystericum

The Argumentum Hystericum

14 August 2022
by Dr James Alexander

POSTS BY DATE

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr   Jun »

SOCIAL LINKS

Free Speech Union
  • Home
  • About us
  • Donate
  • Privacy Policy

Facebook

Twitter

Instagram

RSS

Subscribe to our newsletter

© 2022 Skeptics Ltd.

No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Forum
  • Donate
  • Newsletter

© 2022 Daily Sceptic.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Please note: To be able to comment on our articles you'll need to be a registered donor

Already have an account?
Please click here to login Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
wpDiscuz
You are going to send email to

Move Comment