Assessment: These prices brought coal and gas back on to the system to save the day, but emergency measures are expensive, and the cost to consumers and the wider economy was little short of horrifying …
The UK’s failing renewable strategy is a national embarrassment. Critically low wind power, for nearly the whole of yesterday, resulted in extremely high prices, with the two remaining coal units at Drax offering to saving the day at £4,000/MWh, nearly 100 times the wholesale price normal before the current crisis started, with many other fossil fuel generators also riding to the rescue at staggering prices.
Indeed, yesterday, 3 November, saw a new record for the total daily cost of balancing the GB electricity grid. The previous record of £38 million, twenty times the current daily average, was smashed by a margin of £6 million, with the new record standing at £44.7m.
The causes are easy to identify from the Balancing Mechanism Reporting Service’s own chart of the Transmission System fuel mix. Wind power, the dark blue bars, was extremely low for most of the day, with a minimum of only 1 GW, under 5% of its capacity.
Minimum wind generation coincided neatly with peak demand, and as a result system prices reached stunning levels, with a maximum of just over £4,000 a megawatt hour, nearly 100 times the wholesale price normal before the current crisis started, as can be seen in this BMRS chart:
Read More @ Zero Hedge HERE
Just a little inside track on this …Until becoming Prime Minister Johnson, for several years, wrote a political comment column in the Daily Telegraph. He aired many off-the-wall ideas and consistently questioned Green ideology. Now, he’s in No !0 Downing Street and recently married to a much younger self evidenced social climber, Carrie.
Out in the real world Carrie is known as Carrie Antoinette, a Green fanatic who, perhaps if she wasn’t married to the PM would be campaigning and protesting alongside her ideological mates still keeping an eye out for the main chance.
Our press has often questioned Johnson’s evangelical conversion to Climate Change and all things Green. Maybe that has much to do with blissful pillow talk with a young woman. But of course, you didn’t hear that from me.
For me Climate Change is a tool to manipulate peoples into that place of deepest hopelessness and poverty when a certain man will step forward, someone already well known, and declare. ‘I’ll resolve all your problems!’ Secretary General to the UN is already advocating a one world government. It’s leader won’t be a man!
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