New energy economics
"Iberdrola SA’s Scottish Power Renewables unit has submitted a bid for its 1.4-gigawatt East Anglia Three project, off England’s east coast. East Anglia One, which this week started to generate electricity from the first of its 102 turbines, won a similar auction in 2015, with a price of 119 pounds ($147) per megawatt-hour.Offshore Wind-Power Prices Are Plunging | Bloomberg
This latest round could see bids less than half of that, according to an executive at the company. The slide in prices highlights how rapidly offshore wind has transformed from a niche technology to a core part of the global push to reduce dependence on fossil fuels.
“It’s going to be at a price that’s cheaper than anything we’ve seen before in the U.K. and probably at a price sitting below the government’s own projections,” said Jonathan Cole, managing director of Iberdrola’s offshore wind business."