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Wind farms cash in on contract loophole
Credit: Emily Gosden, Energy Editor | The Times | Saturday May 07 2022 | www.thetimes.co.uk ~~
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Translate: FROM English | TO English
Britons face paying tens of millions of pounds more than expected for electricity from offshore wind farms after developers used a contract loophole to cash in on the energy crisis.
At least two newly constructed offshore wind farm projects have delayed activating their contracts to supply power to consumers at a fixed price, enabling them to sell it at higher prices in the market instead.
Kwasi Kwarteng, the business secretary, is understood to believe that the developers of the Moray East and Triton Knoll offshore wind farms are “not behaving within the spirit” of the green energy investment scheme that they signed up for, although there is no suggestion that they have broken any rules.
The minister is reviewing the issue and is considering
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