Green energy costs ‘far higher than ministers admit’
I have long wondered about a coherent overview of how the current renewables subsidies affect the market.
The report featured in this article provides fascinating food for thought – it identifies:
Highly subsidised wind and solar capacity flooding the market with near random amounts of zero marginal cost electricity wrecks the economics of conventional power stations. It is therefore impossible to integrate large amounts of intermittent renewables into a private sector system and still expect it to function as such.
There are two options to align ownership and control:
1. If renewables are a must-have – although no government has made a reasoned policy case for them – then nationalisation is the answer; or
2. the state cedes control, ditches the renewables target and returns the sector to the market.