We knew that offshore wind was amazingly expensive.  But just how expensive?  An analysis by Paul Homewood on the web-site “Notalotofpeopleknowthat” reckons that the subsidy per unit will be nearly double the wholesale price of electricity.  Based on expected capacity by 2022, that will amount to some £6 billion a year.  Guaranteed for fifteen years.

Could it be worse than that?  It is.  Less than 20% of the projected capacity will be British-owned.  So roughly £5 billion of that subsidy will simply go overseas – a huge loss to the British economy.  We are undermining our economy, driving pensioners into fuel poverty, forcing energy-intensive industries offshore.  And almost literally throwing billions of pounds away.  All in the name of green gesture politics

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