By Paul Homewood
h/t Joe Public
Scottish First Minister, John Swinney, has criticised Labour for the latest energy price cap increase, arguing that “Scotland could deliver a different path by capitalising on low-cost renewable resources to bring down bills.”
The story of Dorenell Wind Farm in picturesque Morayshire exposes the vacuity of his rhetoric.
Dorenell is currently paid £116.70/MWh through its CfD. But that is not the whole story!
Dorenell’s Annual Accounts have just been published for last year; they show that only half of their annual output was actually exported to the grid and sold. The other half was curtailed, paid for with constraint payments.
Total revenue equalled £67.57 million, which works out at £114.30/MWh – the strike price last was actually less, £113.47/MWh, meaning the curtailment payments were even more profitable than the CfD!
Crucially, this all means that the cost of the electricity exported to the grid was £227.40/MWh, three times the market price.
Fortunately for John Swinney’s Scotland, it is Great Britain as a whole which has to pay for this obscene waste of money.
https://find-and-update.company-information.service.gov.uk/company/05628395/filing-history
Dorenell incidentally is fully owned by EDF, the French state-owned company, who I am sure will be grateful for this munificence!
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Author: Paul Homewood
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