Greenpeace, the Green Party and Caroline Lucas are celebrating a 50% drop in the price of offshore wind power with tweets galore using the graphic above. It sounds like great news for electricity bill payers that the price of wind power has dropped 50%. It is not quite as good as it sounds.
The government’s guaranteed price to wind power producers has dropped 50% in 2 years. The price to the consumer will still be set in the energy market place. A welcome saving to taxpayers it may be, it is not a 50% drop in the price to the consumer. Shale gas would likely be even cheaper if the Greens got out of the way and let the industry get on with fracking it. The Green Party and their allies are the cause of higher energy prices.
Caroline Lucas is making out that that somehow the even more heavily subsidised nuclear industry could be ditched in favour of renewables. In reality given that wind power produces less than 5% of the UK’s energy needs and the output is basically zero for 64% of the time this is not very likely. She’s spinning more than the wind turbines.