A renewable energy developer and operator – which is, inter alia, developing a wind farm site in Wormit, Fife – has published a new report showing that a mix of renewables, energy storage and backup gas generation can provide the same low carbon baseload power as Hinkley Point at a 25% cheaper price.
In the report – ‘Hinkley Point Through The Looking Glass’ – Niels Kroninger, Joint Managing Director, Green Hedge Energy, shows how this would save UK consumers £720 million per year for 35 years.
He said: “We’ve invited DECC to start negotiating such a contract with us and other renewable energy firms if they are committed to technology neutrality. This also goes to show that the cost assumptions we make, albeit surprising, are realistic today”.
Read the full BUSINESS PROFILE: How we can save UK electricity consumers £720 million per year for 35 years