Is Wind Power “9 Times Cheaper Than Gas”?
In the wake of the recent natural gas price crisis, politicians and campaigners have claimed that wind power is “nine times cheaper” than power produced from gas plants.
The origin of the claim is the green-billionaire funded eco-propaganda blog, Carbon Brief, which published an article in July 2022 comparing wholesale electricity prices with “strike prices” offered by wind power developers, under the Contracts for Difference (CfD) scheme — the main element of the UK’s electricity generation capacity market.
But there are many problems with Carbon Brief’s claim.
High natural gas prices were caused by the following factors:
Long term green policy throughout the EU and UK prohibiting or restricting natural gas exploration and extraction, including fracking.
Lockdowns had caused gas production to be ramped down.
The rising cost of capital for hydrocarbon energy projects, caused by, among other things, divestment and ESG campaigns aimed at financial institutions and investors, causing a collapse in investment over the 2010s. This also had the effect of compounding the problem of capital cost when lockdowns ended, making it harder to increase production.
EU and NATO member states’ sanctions against Russia. The green agenda had caused EU members to make themselves dependent on Russian energy exports.
https://climatedebate.co.uk/is-wind-power-9-times-cheaper-than-gas/
