July 20, 2018: lack of wind leaves UK turbine investors short-changed -- from oilprice.com. The wind drought:
It’s been a stifling summer of disappointment for investors in the UK’s wind farms, which a heatwave has put at a standstill that’s seen a major drop in power generation eat away at millions of pounds in profits.
As a prolonged ‘wind drought’ ensues, British energy giant SSE has announced an £80-million (around $104 million) reduction in quarterly profits, with both offshore and inland wind farms experiencing 15 percent lower output than originally anticipated.
SEE also said that electricity output from hydropower stations was 20 percent lower than expected.
The dismal numbers from the company’s first fiscal quarter indicated to investors that the full-year results may also take a hit, prompting share prices to plunge more than percent to £13.50 on Thursday.
Wow, talk about perfect timing.
I just posted an entry in which all agree: renewable energy is one of the least efficient ways to go about replacing coal consumption in a short period of time.
The article did not say what the least efficient way to go. Most likely that's nuclear power. It takes ten years to get the permits, and then another ten years to build the damn thing. Assuming all goes well.
So, here we have a most interesting story.
Apparently, those living in the United Kingdom are learning that:
a) the wind doesn't blow all the time (except over Menwith Hill);Here's the story. Huge thanks to Don; I would have missed it.
b) wind power is not dispatchable; and,
c) their Kingdom does not have a good answer for energy when the wind quits blowing
So, the Kingdom's answer? I can't make this up:
- Britain has gone nine days with no wind generation
- forecasts show the doldrums to persist for another two weeks
- day-ahead power prices are the highest level for this time of year for at least a decade
- except for a surge forecast for June 14th, the forecast is for the wind to stay low for at least the next two weeks
- UK turbines can produce about as much power as 12 nuclear reactors when conditions are right
- recently, wind generated about 4.3% of the Kingdom's electricity
- coal output has dropper near zero
- gas and nuclear power have picked up the slack, 54% and 25% respectively
- repeat: natural gas is now supplying more than half of the Kingdom's electricity requirements, and that's without all those Teslas which Musk promises us we will see next year
Great graphics, by the way, as usual, at the linked Bloomberg article.
- A new nuclear reactor. The financing push begins soon. Whenever that might be.
By the way, one more thing: this wind-thing won't happen during the winter. Had it happened during the winter it would be a catastrophe for England. In the summer, not so bad. Just higher prices.