Windy enough today?
Weather conditions can vary year on year, but ‘some of the poorest wind conditions in the North Sea for more than two decades’ probably wasn’t on anyone’s list of scenarios. As a result the not-so wondrous wind turbines are under-performing, and with less electricity to sell comes less profit so shareholders won’t be impressed either. What will next year bring? Place bets now!
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SSE’s renewable energy output over spring and summer was almost a third lower than planned, as low winds and dry weather combined with high gas prices to push up energy prices, reports the Financial Times (via Swiftheadline).
The FTSE 100 energy supplier said on Wednesday its wind and hydro output between April 1 and September 22 was 32 per cent beneath its target — equivalent to an 11 per cent hit to its full-year production forecast.
The summer was “one of the least windy across most of the UK and Ireland and one of the driest in SSE’s hydro catchment areas in the last 70 years”, the company said in a statement.
SSE’s update is the latest sign of how unfavourable weather conditions are hitting the renewables sector.
It comes as a global gas shortage, a rebound in energy demand after coronavirus lockdown restrictions and some of the poorest wind conditions in the North Sea for more than two decades have propelled UK and continental European energy prices this month to their highest ever levels.
Full report here.
via Tallbloke’s Talkshop
September 29, 2021 at 06:54AM
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