From the review...
gouged by wind power outfits, German and Scandinavian power consumers pay the highest retail power prices in the world
The cost of wind power needs to rise to 60 euros ($66.70) a megawatt-hour from about 50 euros a megawatt-hour now to get more projects built
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http://stopthesethings.com/2015/10/...t-collapses-in-sweden-denmark-finland-norway/
gouged by wind power outfits, German and Scandinavian power consumers pay the highest retail power prices in the world
The cost of wind power needs to rise to 60 euros ($66.70) a megawatt-hour from about 50 euros a megawatt-hour now to get more projects built
Wind Power Investment Collapses in Sweden, Denmark, Finland & Norway
Vesta’s Scandinavian marketing plan, goes up in smoke …
****
When the wind industry and its worshippers start chanting their mantras about the ‘wonders’ of wind, it isn’t long before they start preaching about the examples purportedly set by the Europeans; and, in particular, the Nordic nations.
That the wind power fraud was driven by Denmark’s struggling turbine maker, Vestas probably has a fair bit to do with the worshippers’ fanatic-cult-like veneration of Scandinavia.
But, hold the phone?
It seems that economics works in precisely the same fashion in Denmark, Sweden, Finland and Norway, as just about everywhere else (save Cuba and North Korea, say?).
In Australia, the wind industry, its parasites and spruikers have spent much of the last three years wailing like banshees about dreaded “uncertainty” surrounding the Large-Scale Renewable Energy Target – all Tony Abbott’s fault, of course.
However, no matter how hard they try to avoid it, it seems that “dreaded uncertainty” is ubiquitous; and nothing to do with Tony Abbott, at all. Unless he’s been terrorising Scandinavia’s wind industry on the sly?
Investors – quite rightly nervous about the willingness of governments continuing to throw an endless and massive stream of subsidies at these things – stopped throwing money at European wind farms years ago.
Now, the Nordics are watching a complete collapse in wind power investment; with wind industry pundits wailing about … yep, that’s right: “UNCERTAINTY” – as the cause.
=======
Wind Farm Investment Plunges With Power Prices in Nordic Region
Bloomberg News
Anna Hirtenstein and Rachel Morison
4 September 2015
Investors are pulling back from wind farms in Nordic nations as the lowest electricity prices in 12 years cut the profitability of new projects.
No wind farms were commissioned in Sweden in the second quarter, compared to 50 megawatts in the same period a year earlier, according to the nation’s wind association. Investment in utility-scale Nordic wind assets fell 76 percent to $1.2 billion in the three years through 2014, according to data from Bloomberg New Energy Finance.
“The low purchase price for power is worrying,” Thomas Wrangdahl, first vice-president and head of lending at the Nordic Investment Bank, said in a telephone interview. “We are seeing less investments in new power production in the market, particularly in the wind industry, and we believe that it’s linked to the low prices.”
The Nordic region has the lowest electricity prices in Europe and some of the highest reliance on renewables. The next-quarter contract, a benchmark, slumped 33 percent in the past year, according to data from Nasdaq Commodities exchange in Oslo. Prices dropped to the lowest for at least 12 years in June as wet weather boosted hydropower reserves.
The Nordics were early adopters of renewable technologies, creating the biggest wind turbine maker, Denmark’s Vestas Wind Systems A/S. Lower power prices are undermining those efforts, with
Investment Pause
This year could be a “pause in investment,” according to Niclas Andersson Boberg, a director of M&A at EY in Stockholm. “The number of projects that are good enough to be finalized are fewer.”
The cost of wind power needs to rise to 60 euros ($66.70) a megawatt-hour from about 50 euros a megawatt-hour now to get more projects built, he said.
The drop in investor appetite may become a barrier to reaching goals for reducing greenhouse gases. Part of the problem is uncertainty around how governments will regulate and support the industry beyond 2020, according to Charlotte Unger, chief executive officer of Sweden’s wind-industry trade group Svensk Vindenergi.
Energy Exports
“If the politicians wait too long to decide on a support scheme after 2020 and on measures to improve the current system, this could affect the willingness to invest and hence also the target,” she said. “This will also make it more difficult for Sweden to export clean energy.”
Industry consultant, Nena AS, projected in June that electricity production in the Nordic region will outpace domestic demand by as much as 7 percent by 2020. The Nordic and Baltic states are exporting its surplus elsewhere in Europe as transmission links double capacity to more than 10 gigawatts by 2020, according to Bloomberg New Energy Finance.
The declining investor interest in building new wind farms can also be linked to sliding prices in the green power certificate market set up by Sweden and Norway, according to Jonas Rooze, head of European power analysis at New Energy Finance.
“The Swedish and Norwegian wind industry has been hit by a double whammy, as electricity prices are low and prices in the shared green certificate scheme have also been dropping due to oversupply,” Rooze said. “Too much wind has been built.”
Returns for Nordic onshore wind projects are as little as 5 percent, down from 8 percent around 2013, said Paul Stormoen, managing director of Stockholm-based renewable-energy developer OX2 Group AB.
“I know of projects stuck in limbo right now over uncertainty in the green certificate market in the medium to long term,” he said.
Bloomberg News
Talk in the piece above about “low power prices” has nothing to do with what retail customers pay. No, the moaning is about spot prices; that plummet when the wind blows; and which rocket when it doesn’t:
Of course, wind power outfits don’t get to ‘participate’ in the market when it peaks, and are left to curse the fickle nature of the Wind Gods:
Wind Power Ponzi Scheme Running Out of Puff
As a result of the subsidies and guaranteed feed-in-tariffs gouged by wind power outfits, German and Scandinavian power consumers pay the highest retail power prices in the world:
As to that dreaded economic lurgy, “uncertainty” – not to worry, wind worshippers. There is at least one certainty. Without massive and endless subsidies this is an industry that goes nowhere.
Always looking for someone else to prop it up …
Vesta’s Scandinavian marketing plan, goes up in smoke …
****
When the wind industry and its worshippers start chanting their mantras about the ‘wonders’ of wind, it isn’t long before they start preaching about the examples purportedly set by the Europeans; and, in particular, the Nordic nations.
That the wind power fraud was driven by Denmark’s struggling turbine maker, Vestas probably has a fair bit to do with the worshippers’ fanatic-cult-like veneration of Scandinavia.
But, hold the phone?
It seems that economics works in precisely the same fashion in Denmark, Sweden, Finland and Norway, as just about everywhere else (save Cuba and North Korea, say?).
When you’re trying to sell a ‘product’ with no commercial value,
the ‘business’ – for want of a better word –
can only be about what you can extract from gullible/compliant governments (and unwitting power consumers), in the form of massive and endless subsidies.
the ‘business’ – for want of a better word –
can only be about what you can extract from gullible/compliant governments (and unwitting power consumers), in the form of massive and endless subsidies.
In Australia, the wind industry, its parasites and spruikers have spent much of the last three years wailing like banshees about dreaded “uncertainty” surrounding the Large-Scale Renewable Energy Target – all Tony Abbott’s fault, of course.
However, no matter how hard they try to avoid it, it seems that “dreaded uncertainty” is ubiquitous; and nothing to do with Tony Abbott, at all. Unless he’s been terrorising Scandinavia’s wind industry on the sly?
Investors – quite rightly nervous about the willingness of governments continuing to throw an endless and massive stream of subsidies at these things – stopped throwing money at European wind farms years ago.
Now, the Nordics are watching a complete collapse in wind power investment; with wind industry pundits wailing about … yep, that’s right: “UNCERTAINTY” – as the cause.
=======
Wind Farm Investment Plunges With Power Prices in Nordic Region
Bloomberg News
Anna Hirtenstein and Rachel Morison
4 September 2015
Investors are pulling back from wind farms in Nordic nations as the lowest electricity prices in 12 years cut the profitability of new projects.
No wind farms were commissioned in Sweden in the second quarter, compared to 50 megawatts in the same period a year earlier, according to the nation’s wind association. Investment in utility-scale Nordic wind assets fell 76 percent to $1.2 billion in the three years through 2014, according to data from Bloomberg New Energy Finance.
“The low purchase price for power is worrying,” Thomas Wrangdahl, first vice-president and head of lending at the Nordic Investment Bank, said in a telephone interview. “We are seeing less investments in new power production in the market, particularly in the wind industry, and we believe that it’s linked to the low prices.”
The Nordic region has the lowest electricity prices in Europe and some of the highest reliance on renewables. The next-quarter contract, a benchmark, slumped 33 percent in the past year, according to data from Nasdaq Commodities exchange in Oslo. Prices dropped to the lowest for at least 12 years in June as wet weather boosted hydropower reserves.
The Nordics were early adopters of renewable technologies, creating the biggest wind turbine maker, Denmark’s Vestas Wind Systems A/S. Lower power prices are undermining those efforts, with
Denmark considering a U-turn on its ambitious green energy targets and
Finland preparing to cut incentives for wind.
Norway’s government-owned Statkraft AS canceled investments in some of Scandinavia’s biggest wind projects in June, citing reduced profitability.
Finland preparing to cut incentives for wind.
Norway’s government-owned Statkraft AS canceled investments in some of Scandinavia’s biggest wind projects in June, citing reduced profitability.
Investment Pause
This year could be a “pause in investment,” according to Niclas Andersson Boberg, a director of M&A at EY in Stockholm. “The number of projects that are good enough to be finalized are fewer.”
The cost of wind power needs to rise to 60 euros ($66.70) a megawatt-hour from about 50 euros a megawatt-hour now to get more projects built, he said.
The drop in investor appetite may become a barrier to reaching goals for reducing greenhouse gases. Part of the problem is uncertainty around how governments will regulate and support the industry beyond 2020, according to Charlotte Unger, chief executive officer of Sweden’s wind-industry trade group Svensk Vindenergi.
Energy Exports
“If the politicians wait too long to decide on a support scheme after 2020 and on measures to improve the current system, this could affect the willingness to invest and hence also the target,” she said. “This will also make it more difficult for Sweden to export clean energy.”
Industry consultant, Nena AS, projected in June that electricity production in the Nordic region will outpace domestic demand by as much as 7 percent by 2020. The Nordic and Baltic states are exporting its surplus elsewhere in Europe as transmission links double capacity to more than 10 gigawatts by 2020, according to Bloomberg New Energy Finance.
The declining investor interest in building new wind farms can also be linked to sliding prices in the green power certificate market set up by Sweden and Norway, according to Jonas Rooze, head of European power analysis at New Energy Finance.
“The Swedish and Norwegian wind industry has been hit by a double whammy, as electricity prices are low and prices in the shared green certificate scheme have also been dropping due to oversupply,” Rooze said. “Too much wind has been built.”
Returns for Nordic onshore wind projects are as little as 5 percent, down from 8 percent around 2013, said Paul Stormoen, managing director of Stockholm-based renewable-energy developer OX2 Group AB.
“I know of projects stuck in limbo right now over uncertainty in the green certificate market in the medium to long term,” he said.
Bloomberg News
Talk in the piece above about “low power prices” has nothing to do with what retail customers pay. No, the moaning is about spot prices; that plummet when the wind blows; and which rocket when it doesn’t:
South Australia’s Unbridled Wind Power Insanity:
Wind Power Collapses see Spot Prices Rocket from $70 to $13,800 per MWh
Wind Power Collapses see Spot Prices Rocket from $70 to $13,800 per MWh
Of course, wind power outfits don’t get to ‘participate’ in the market when it peaks, and are left to curse the fickle nature of the Wind Gods:
Wind Power Ponzi Scheme Running Out of Puff
As a result of the subsidies and guaranteed feed-in-tariffs gouged by wind power outfits, German and Scandinavian power consumers pay the highest retail power prices in the world:
‘Green’ Power Myths Busted: Wind ‘Powered’ Danes & Germans Pay Europe’s Highest Power Prices By Far
As to that dreaded economic lurgy, “uncertainty” – not to worry, wind worshippers. There is at least one certainty. Without massive and endless subsidies this is an industry that goes nowhere.
Always looking for someone else to prop it up …
http://stopthesethings.com/2015/10/...t-collapses-in-sweden-denmark-finland-norway/
