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Offshore wind now cheaper than new nuclear

Offshore wind now cheaper than new nuclear

Business
The cost of new offshore wind power is set to fall by 50% over the next five years following the award of new government contracts.The results of the latest auction for new projects were cheered by environmental campaigners as the contracts - which guarantee a set price for power - tumbled to record lows.The cost fell to £74.75 per megawatt hour (MWh) for projects delivered in 2021/22 and £57.50 for projects in 2022/23.That compares with £92.50 MWh for the new Hinkley Point C nuclear power station - due to start generating electricity in the latter half of the 2020s.:: Hinkley Point C hit by £1.5 over-run and delayVideo:Hinkley Point costs to rise by more than £1bnThe results of the auction for 11 new contracts, which also included biomass and waste plant energy schemes, should help put do