NOT a single energy company bid for offshore windfarm contracts in the Government’s latest auction.
Firms said the price cap of £44 per megawatt hour failed to reflect a 40 per cent jump in costs of building a wind farm.
UK electricity prices are currently around £87 per megawatt hour.
The auction was meant to ensure wind farm projects receive a guaranteed price for generated electricity for 15 years once up and running.
It is a blow for ambitions to treble offshore wind power to 50 gigawatts by 2030.
From tongue scraping to saying no, here are 12 health trends to try in 2023
Experts said it could add another £1billion to customer bills as the UK will have to import dearer energy.
Scottish Power’s boss Keith Anderson called it a “wake-up call” and a “multi-billion lost opportunity”.
It's Asda nice
ASDA’S owners the Issa brothers have cut debt on their EG Group petrol empire by 41 per cent, accounts released yesterday show.
In May, Asda bought EG’s UK and Irish garages for £2.27billion.
The brothers have faced questions about whether Asda has become less competitive because of debt dealings.
Air fee clash
HEATHROW will be forced to lower passenger fees after the competition authority backed a ruling by the Civil Aviation Authority.
The competition regulator ruled yesterday that while the CAA “made errors” when telling Heathrow to cut the charges, it will still have to cut fees by almost a fifth next year.
ROUND HILL MUSIC ROYALTY FUND, which owns the rights to songs by The Supremes, Phil Collins and Bonnie Tyler, saw shares leap 64 per cent yesterday after agreeing a £375million takeover by LA-based rival Concord.
