GMB comments on contract for difference (CFD) auction results
2 min read
A balanced energy mix of nuclear, gas (including hydraulically fracked) and renewable energy sources is the only way of ensuring continuity of supply says GMB.
GMB, the energy workers' union, welcomes the latest CfD auction results showing falling prices in offshore wind projects as published by National grid today, Monday 11 September.
However, today’s strike prices of between £57.50 and £74.75 per MWh do not reflect the total costs borne by the consumer.
£10-£15 per MWh needs to be added to reflect the need for back-up capacity when the wind is not blowing during a period of high demand and the cost of wasted generation when there is too much wind.
Justin Bowden, GMB National Secretary for Energy, said:
“GMB welcomes the price of wind starting to come down but cautions decision makers to keep their feet nailed firmly to the ground so as not to get blown away by all the hot air coming out from those suggesting Britain can rely, anytime soon, on renewables only energy sources, given that the wind and solar fleets combined produce almost no electricity for nearly half the time.
“A balanced energy mix of nuclear, gas (including hydraulically fracked) and renewable energy sources is the only way of ensuring continuity of supply.
“Until there is a breakthrough in carbon capture and storage then the reliable base load capacity nuclear and gas can bring for all those of days and nights when the wind doesn't blow and the sun doesn't shine is crucial.”
