COST OF OFFSHORE WIND NOSEDIVES BY 57%! IS IT PROFITABLE? PROFITS NOSEDIVE TO 0 [ZERO]

Beatrice, 2007: £2,600 million; 588 MW. That's equivalent to £4.42 million/MW of installed capacity. 

CfD Rate:  £140.00/MWh

Moray East, 2017: £1,800 million; 950 MW. That's equivalent to £1.89 million/MW of installed capacity.
CfD Rate:  £57.50/MWh

---------------------------//---------------------------

---------------------------//---------------------------

   Is £57.50/MWh a problem for Nuclear?   

NO - BUT IT IS FOR OFFSHORE WIND!!!

--------------------//--------------------

To Energy Fund Managers: 

Why even contemplate investing 64% more in 950 MW of the very latest Offshore Wind technology, when investing in a 220 MW SMR will 'generate' 14.5X more 'Earnings - Costs' ?????

To GENUINE Environmentalists:

Support investment in SMRs and get 2.6X more [24/7] low-carbon electricity, for every £ invested, than from the very latest Offshore Wind technology.

To Politicians:

Support investment in SMRs and have your cake and eat it. Get 2.6X more low-carbon electricity and 14.5X more [taxable] money circulating in the economy.

------------------------------//------------------------------

------------------------------//------------------------------

At an average Capacity Factor of 31.25%. Over its 25 year lifespan it will deliver just over of 65.0 million MWh of intermittent electricity.

Moray East Capacity Factor Calculation.

Earnings - £57.50/MWh at CfD rate [15 years] will be 

£2,421.1 million.

Earnings - £42.00/MWh current rate [10 years] will be 

£994.0 million.

Earnings over 25 year Lifespan: £3,415.1 million.

 --------------------//--------------------
Capital Cost: £1,800.0 million

O & M cost: Dec 2016 - 57.3 M€/yr; Plus 1.4% European inflation to Nov 2017 & €1.13 to £1.00 = £1,285.4 million. 

Table 15, Page 41. 100 Turbines 30 km Offshore - 57.3 M€/yr

Decommissioning Costs of £200,000/MW = £190.0 million

"...they could be over £200,000/MW, on the lower side..." 

Total Costs [excluding Cost of Capital] = £3,275.4 million

--------------------//--------------------

Earnings - Costs = £139.7 million.

------------------------------//------------------------------

-------------------------------//------------------------------

Page 51, Figure 21. Current Study (adjusted - mature designs)

Pressurised Water Reactors [PWRs] operate at Capacity Factor of 90%. Over its 60 year design life, a R-R 220 MW SMR will deliver 104.1 million MWh of 24/7 electricity. 

Earnings - £57.50/MWh at CfD rate [35 years] will be 

£3,490.6 million.

Earnings - £42.00/MWh current rate [25 years] will be 

£1,821.2 million.

Earnings over 60 year Design Life: £5,311.8 million.

--------------------//--------------------
Capital Cost: £1,100 million.

  
2008 - O & M: 1.37 cents/kWh. Then, Plus 13.69% US inflation to 2017 & $1.31 to £1.00 = £1,237.7 million.
The NEI describes what is included in those numbers.

Hinkley Point C, 3,200 MW Nuclear Power Plant [NPP] decommissioning/waste storage/waste handling cost: £7,300 million. Pro-rata cost for a 220 MW NPP:
(220 ÷ 3,200) x 7,300 = £501.9 million.

2008 - Fuel: 0.49 cents/kWh. Then, Plus 13.69% US inflation to 2017 & $1.31 to £1.00 = £442.7 million.

The NEI describes what is included in those numbers.

Total Costs [excluding Cost of Capital] = £3,282.3 million

--------------------//--------------------

Earnings - Costs = £2,031.2 million.

------------------------------//------------------------------

------------------------------//------------------------------

To Investors: 

INVEST 39% LESS, GENERATE 14.5X MORE !!!

------------------------------//------------------------------

------------------------------//------------------------------