Lack Of Wind Leaves UK Turbine Investors Short-Changed

[Swordsmyth]

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.
"This new financial year has so far been characterised by lower than expected output of renewable energy and persistently high gas prices, but looking ahead, we are very focused on fulfilling our obligations to energy customers and delivering on our key priorities,” SEE CEO Alistair Phillips-Davies said, as reported by the BBC.

The country’s National Grid noted a 30-percent drop in wind generation in recent weeks.
“Between 4th June and 15th July wind generation was around 30 percent lower compared to the same period last year. Electricity demand is low and we’re comfortable with the level of spare generation we have available,” grid authorities said in a statement.

More at: https://oilprice.com/Latest-Energy-N...t-Changed.html

[pcosmar]

You have to put them where wind is..

[timosman]

You have to put them where wind is..

It all depends what your goal is.