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Inflated energy bills fail to put wind in renewable market's = sails

By Fiona Harvey and Rebecca Bream

Published: February 4 2008 02:00 | Last updated: February 4 2008=20 02:00

The subsidy system supporting wind farms in the UK is one of the most = expensive in Europe, according to research by the European = Commission.

Only Italy's system, which is of a similar style to the UK's = "renewables=20 obligation" or RO, gives renewable electricity companies a greater = expected=20 profit.

The subsidies come not from the taxpayer but the electricity = consumer, adding=20 =C2=A31bn a year to electricity bills by 2010, rising to =C2=A33bn by = 2020. But although=20 the subsidies are intended to increase the amount of electricity = produced from=20 renewable sources - of which wind is one of the cheapest and most mature = - fewer=20 new wind farms are being built, owing to planning restrictions.

Last year about 427 megawatts of generating capacity was erected, = compared=20 with 650MW constructed in 2006, according to the British Wind Energy=20 Association.

So while the amount paid in subsidy by consumers increases steadily, = the=20 amount of electricity produced from wind, and other renewables, is = rising only=20 slowly. Existing wind farms are therefore making bigger profits than = ever, from=20 a combination of higher subsidies and a higher electricity price.

Indeed, according to calculations made by Ofgem, the electricity = regulator,=20 the high electricity price of more than =C2=A350 per megawatt hour means = wind farms=20 in favourable locations with strong winds could be profitable without = the=20 subsidy.

Ofgem says that some form of financial support is still needed for = the wind=20 sector, because the price of electricity fluctuates, but says the = current system=20 is too expensive.

Few people realise that about =C2=A310 of their household electricity = bill each=20 year goes to support the renewables sector. Peter Atherton, head = utilities=20 analyst at Citi Investment Research, said: "The consumer pays. It's a = regressive=20 tax on the poor."

According to an analysis by Ofgem last year, the cost per tonne of = carbon=20 dioxide saved under the renewables obligation was =C2=A3184 to =C2=A3481 = - far more than=20 other policy measures, such as the European Union's emissions trading = scheme, at=20 =C2=A312 to =C2=A370 a tonne, the climate change levy at =C2=A318 to = =C2=A340 a tonne, and the=20 energy efficiency commitment, which costs less than =C2=A360 a = tonne.

The economics of the wind industry are opaque, however, as most wind = farms=20 are either owned by electricity utilities which do not break out their = revenues=20 from wind in the UK, by renewables specialists with a variety of = investments=20 outside wind, or by private companies that do not disclose the breakdown = of=20 their profits. According to Financial Times estimates a small, = well-sited wind=20 farm with 10 turbines, each of 2MW capacity, can expect to reap revenues = of=20 between =C2=A33.5m and =C2=A35m a year, on an outlay of about =C2=A320m = with ongoing=20 maintenance costs of up to =C2=A3400,000 a year.

But some wind companies say the sums they make are much smaller. RWE = Npower=20 told the FT its estimate was about =C2=A375 to =C2=A385 per megawatt = hour when the price=20 of electricity and income from the RO were combined, compared with about = =C2=A3100 in=20 Ofgem's calculations.

Wind farm owners argue that their profits are not excessive, given = the amount=20 of risk they have to take on, particularly in regard to the planning = process. A=20 protracted planning application can cost a company more than =C2=A31m = for even a=20 medium-sized wind farm.

Ian Marchant, chief executive of utility Scottish and Southern = Energy, said=20 wind farms had started to compete with coal-fired and gas-fired power = stations=20 in economic terms as the electricity price and fossil fuel costs had = gone up.=20 "But wind energy still needs a special support mechanism. It would not = get built=20 without it."

Willie Heller of Falck said: "The UK is the riskiest country to do = wind=20 [because of difficulties gaining planning permission for turbines]."

Wind operators also point out that their costs are rising: the price = of=20 turbines has increased by about 30 per cent in the past few years, as = there is=20 not enough manufacturing capacity to fulfil demand for them.

Mr Marchant at SSE said: "Any first generation wind farm that got in = before=20 the increase in turbine costs has proved to be an excellent investment," = adding=20 that these wind farms have been reaping "double digit" returns on=20 investment.

The renewables obligation will be reformed in the government's = planned energy=20 bill, with higher subsidies available to technologies such as offshore = wind=20 farms and wave energy, which have not benefited much so far. But the way = cash is=20 channelled to onshore wind farms will not change.

The EU targets agreed by the government would require an eight-fold = increase=20 in renewable electricity output by 2020, and a large proportion of this = is=20 expected to come from the wind sector.

This is the first part in an FT series on wind = power.

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_GetObj(vObj){var = oObj=3Dnull;switch(typeof(vObj)){case"object":oObj=3DvObj;break;case"stri= ng":oObj=3Ddocument.getElementById(vObj);break;}=0A= return oObj;};function = _Setup(){_bIE55=3D(typeof(document.body.contentEditable)!=3D"undefined");= _bIE6=3D(typeof(document.compatMode)!=3D"undefined");if(!_bIE55){if(docum= ent.styleSheets.length=3D=3D0)=0A= document.createStyleSheet();var = oSheet=3Ddocument.styleSheets[0];oSheet.addRule(".WCHhider","visibility:v= isible");_oRule=3DoSheet.rules(oSheet.rules.length-1);}=0A= _bSetup=3Dfalse;};};var WCH=3Dnew WCH_Constructor();function = MouseHover(){this.eventManager=3Dnew EventManager();this.fader=3Dnew = Fader();};MouseHover.prototype.CSS_MOUSE_HOVER=3D"mouseHover";MouseHover.= prototype.CSS_CONTENT=3D"mouseHoverContent";MouseHover.prototype.CSS_HIDD= EN=3D"wsodHidden";MouseHover.prototype.SHOW_EVENT=3D"mouseHoverShow";Mous= eHover.prototype.HIDE_DELAY=3D150;MouseHover.prototype.MARGIN=3D10;MouseH= over.prototype.addTarget=3Dfunction(el){this.getMouseOverEvent().addEleme= nt(el);};MouseHover.prototype.removeTarget=3Dfunction(el){this.getMouseOv= erEvent().removeElement(el);};MouseHover.prototype.attachStopEvents=3Dfun= ction(el){var = e=3Dthis.getMouseOutEvent();e.addElement([el,document]);};MouseHover.prot= otype.attachMoveEvents=3Dfunction(el){var = e=3Dthis.getMouseMoveEvent();e.addElement([document]);};MouseHover.protot= ype.getMouseOverEvent=3Dfunction(){var = e=3Dthis.eventManager.add(null,"mouseover",this.show,this);this.getMouseO= verEvent=3Dfunction(){return e;};return = this.getMouseOverEvent();};MouseHover.prototype.getMouseOutEvent=3Dfuncti= on(){var = e=3Dthis.eventManager.add(null,"mouseout",this.hide,this,null,this.HIDE_D= ELAY);this.getMouseOutEvent=3Dfunction(){return e;};return = this.getMouseOutEvent();};MouseHover.prototype.getMouseMoveEvent=3Dfuncti= on(){var = e=3Dthis.eventManager.add(null,"mousemove",this.move,this);this.getMouseM= oveEvent=3Dfunction(){return e;};return = this.getMouseMoveEvent();};MouseHover.prototype.getShowEvent=3Dfunction()= {var = e=3Dthis.eventManager.add(this.SHOW_EVENT);this.getShowEvent=3Dfunction()= {return e;};return = this.getShowEvent();};MouseHover.prototype.getParent=3Dfunction(){var = el=3DElement.get("wsod");this.getParent=3Dfunction(){return el;};return = this.getParent();};MouseHover.prototype.setParent=3Dfunction(el){this.get= Parent=3Dfunction(){return = el;};};MouseHover.prototype.getContainer=3Dfunction(){var = el=3DElement.create("div",{"class":this.CSS_MOUSE_HOVER},[Element.create(= "iframe",{src:"javascript:false;",frameborder:0}),Element.create("div",{"= class":this.CSS_CONTENT})]);Element.addClass(el,this.CSS_HIDDEN);Element.= addChild(this.getParent(),el);this.getContainer=3Dfunction(){return = el;};return = this.getContainer();};MouseHover.prototype.getIframeShim=3Dfunction(){ret= urn = this.getContainer().childNodes[0];};MouseHover.prototype.getContent=3Dfun= ction(){return = this.getContainer().childNodes[1];};MouseHover.prototype.clearContent=3Df= unction(){Element.removeChildNodes(this.getContent());};MouseHover.protot= ype.setCurrentTarget=3Dfunction(el){this.getCurrentTarget=3Dfunction(){re= turn el;};};MouseHover.prototype.getCurrentTarget=3Dfunction(){return = null;};MouseHover.prototype.show=3Dfunction(e,el){this.getMouseOutEvent()= .clearDelayTimeouts();if(el=3D=3Dthis.getCurrentTarget()){return;}=0A= this.hide();this.setCurrentTarget(el);this.getShowEvent().fire(el);var = container=3Dthis.getContainer();Element.setStyle("visibility: = hidden;");Element.removeClass(container,this.CSS_HIDDEN);this.parentOffse= t=3DElement.getXY(container.offsetParent);this.viewport=3DElement.getView= port();this.size=3DElement.getSize(container);Element.setSize(this.getIfr= ameShim(),this.size.width,this.size.height);this.move(e);Element.setStyle= ("visibility: = visible;");this.fader.fadeIn(this.getContainer());this.attachMoveEvents()= ;this.attachStopEvents(el);};MouseHover.prototype.move=3Dfunction(e){if(e= .nativeEvent.pageY=3D=3De.nativeEvent.clientY){var = x=3De.nativeEvent.clientX-this.parentOffset.x+this.MARGIN;var = y=3De.nativeEvent.clientY-this.parentOffset.y+this.MARGIN;}=0A= else{var = x=3De.nativeEvent.clientX-this.parentOffset.x+this.viewport.left+this.MAR= GIN;var = y=3De.nativeEvent.clientY-this.parentOffset.y+this.viewport.top+this.MARG= IN;}=0A= var right=3Dx+this.size.width;var = bottom=3Dy+this.size.height;if(right>this.viewport.right-this.MARGIN){x-=3D= (right-this.viewport.right+this.MARGIN);}=0A= if(bottom>this.viewport.bottom-this.MARGIN){y-=3D(bottom-this.viewport.bo= ttom+this.MARGIN);}=0A= Element.setXY(this.getContainer(),x,y);};MouseHover.prototype.hide=3Dfunc= tion(e,el){this.fader.fadeOut(this.getContainer()).addListener(function()= {this.fader.clearFadeProperties(this.getContainer());Element.addClass(thi= s.getContainer(),this.CSS_HIDDEN);},this);this.setCurrentTarget(null);thi= s.getMouseMoveEvent().removeAllElements();this.getMouseOutEvent().removeA= llElements();};var = CrossDomainRequestor=3Dfunction(){this.globalContext=3D"window";this.requ= ests=3D[];};CrossDomainRequestor.prototype.setGlobalContext=3Dfunction(va= lue){this.globalContext=3Dvalue;};CrossDomainRequestor.prototype.buildReq= uestURL=3Dfunction(params){var = url=3Dparams.url+"?";if(params.contentType){params.data["..contentType.."= ]=3Dparams.contentType;}=0A= params.data.context=3Dthis.globalContext;for(var i in = params.data){url+=3Di+"=3D"+encodeURIComponent(params.data[i])+"&";}=0A= return url;};CrossDomainRequestor.prototype.load=3Dfunction(params){var = elScript=3Ddocument.createElement("script");elScript.src=3Dthis.buildRequ= estURL(params);document.getElementsByTagName("head")[0].appendChild(elScr= ipt);this.requests.push(elScript);};CrossDomainRequestor.prototype.abortR= equests=3Dfunction(){for(var = i=3D0;i$1"; for (var i=3D0; i" + = query + "\".
Try symbol lookup for a more advanced search.") ]) ], elTable); elTable.setAttribute(this.ATTR_NO_RESULTS, "true"); } =09 cachedNodes.push(elTable); this.localCache[query + this.issueType] =3D cachedNodes; =09 this.drawResults(cachedNodes); =09 }; SymbolSearch.prototype.createResultsContainer =3D function() { this.elResults =3D Element.create("div", { "class": this.CSS_HIDDEN }, = null, document.body); Element.addClass(this.elResults, this.CSS_RESULTS); }; SymbolSearch.prototype.drawResults =3D function(cachedNodes) { this.clearResults(); =09 if (!this.elResults) { this.createResultsContainer();=20 } var pos =3D Element.getXY(this.elInput); var size =3D Element.getSize(this.elInput); =09 Element.setXY(this.elResults, pos.x, pos.y + size.height); =09 Element.removeClass(this.elResults, this.CSS_HIDDEN); for (var i=3D0; i';if(thisFTMD=3D=3D""||ftmdParams!=3D'tw'){documen= t.write(call);}=0A= document.cookie=3D"TRK_REF=3Dnull";wtTrack();}=0A= doTrack2();function = doTrackRefresh(){document.cookie=3D"TRK_REF=3D"+window.location.href;setT= imeout("window.location.reload(false)",2000);}=0A= function = wtTrack(){tp.buildMetaTags();tpRef.buildMetaTags();tpTrans.buildMetaTags(= );wtParams.buildMetaTags();wtOverrides.buildRawMetaTags();var = call=3D'':'http://media.ft.com/Common/Track/WT.js">';call+=3D'';do= cument.write(call);}=0A= function isSecure(doc){return(doc.location.protocol=3D=3D'https:');}=0A= function TrackParams(){var hashTable=3Dnew = Array();this.add=3Dfunction(key,val){if(key!=3Dnull&&val!=3Dnull){hashTab= le[key]=3Dval;}}=0A= this.buildQueryString=3Dfunction(){var qs=3D"";for(key in = hashTable){if(typeof = hashTable[key]!=3D"function"){qs+=3Descape(key)+"=3D"+escape(hashTable[ke= y])+"&";}}=0A= return qs.substring(0,qs.length-1);}=0A= this.buildMetaTags=3Dfunction(){var str=3D"";for(key in = hashTable){if(typeof hashTable[key]!=3D"function"){document.write('');}}}=0A= this.buildMetaTagsFromBody=3Dfunction(){for(key in hashTable){if(typeof = hashTable[key]!=3D"function"){var = mt=3Ddocument.createElement("meta");mt.setAttribute("name","DCSext."+key)= ;mt.setAttribute("content",hashTable[key]);document.documentElement.first= Child.appendChild(mt);}}}=0A= this.buildRawMetaTags=3Dfunction(){for(key in hashTable){if(typeof = hashTable[key]!=3D"function"){document.write('');}}}}=0A= var DM_CSID=3D"B04441";var DM_UIDS=3D3;var = DM_CHN=3Ddocument.location.hostname;var DM_PIX=3D"rsi.ft.com";var = DM_BPIX=3D"rsi.ft.com";var DM_UIDD=3Ddocument.location.hostname;var = DM_UIDP=3D"/";var DM_UIDC=3D"";var DM_UIDN=3D"";var DM_UIDE=3D0;var = DM_ADMG=3D1;var DM_ANLY=3D1;var DM_CSES=3D0;var DM_CTST=3D0;var = DM_MULT=3D0;var DM_FRAG=3D0;var DM_RCRC=3D0;var DM_BOOM_ON=3D0;var = DM_BOOM_DMN=3D"";var DM_BOOM_SRC=3D"";var DM_BOOM_DCN=3D"";var = DM_TEST=3D0;var DM_REQS=3D0;var _DTE=3Dnew Date();var = _UNV=3Dnavigator;var _UDC=3Ddocument;var _CHR=3Dnull;var _sImg=3Dnew = Array();var _evts=3Dnew Array();var _hexc=3Dnew = 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xd70dd2ee,0x4e048354,0x3903b3c2,0xa7672661,0xd06016f7,0x4969474d,0x3e6e77= db,0xaed16a4a,0xd9d65adc,0x40df0b66,0x37d83bf0,0xa9bcae53,0xdebb9ec5,0x47= b2cf7f,0x30b5ffe9,0xbdbdf21c,0xcabac28a,0x53b39330,0x24b4a3a6,0xbad03605,= 0xcdd70693,0x54de5729,0x23d967bf,0xb3667a2e,0xc4614ab8,0x5d681b02,0x2a6f2= b94,0xb40bbe37,0xc30c8ea1,0x5a05df1b,0x2d02ef8d);var _UID=3D0;var = _UTZ=3D(-1*_DTE.getTimezoneOffset())+720;var = _UCS=3D((DM_CTST)?(_gc(_sc("TC0",1,DM_CHN,"/",0,0))=3D=3D1?1:0)+(_gc(_sc(= "TC1",1,DM_CHN,"/",1,0))=3D=3D1?2:0):0);var = _USID=3D((DM_CSES)?_sessID():0);var _CNV=3D"";var = _LOC=3D_UDC.location.toString();var _REF=3D_UDC.referrer.toString();var = _CLD=3D0;function = DM_tag(){if(_CLD=3D=3D0||DM_MULT=3D=3D1){_CLD=3D1;switch(DM_UIDS){case = 1:case 2:case 5:var cke=3D_gc(DM_UIDC);if(cke=3D=3Dnull){_UID=3D-1;}else = if(cke.indexOf("/")>=3D0||cke.indexOf("?")>=3D0){_UID=3D-1;}else{_UID=3D"= DMID"+DM_UIDS+"=3D"+escape(cke);}break;case = 4:if((_UID=3D_gc(DM_UIDN))=3D=3Dnull){_UID=3D_genID();_sc(DM_UIDN,_UID,DM= _UIDD,DM_UIDP,DM_UIDE,0);}_UID=3D"DMID4=3D"+_UID;break;}for(var = i=3D0;i<_evts.length;i++){_addNV("DM_EVT."+_evts[i].name,_evts[i].props);= }_addNV("DM_LOC",_encd(_LOC,_BCL1,0));_addNV("DM_REF",_encd(_REF,_BCL1,0)= );(_UID!=3D0&&_UID!=3D-1?_addNV("DM_HID",_encd(_UID,_BCL1,0)):0);_addNV("= DM_TIT",_encd(_UDC.title.toString(),_BCL1,0));_CNV+=3D"&DM_EOM=3D1";if(_p= ack(_CNV)){if(DM_BOOM_ON){_checkBoom();}}_rstReq();}}=0A= function _pack(d){var rdte=3Dnew Date();var = rid=3D_toHex(Math.floor(rdte));var = bse=3D"",hdr=3D"",dat=3D"",seq=3D1;var prt=3Dlocation.protocol+"//";var = msl=3D(DM_PIX.length>DM_BPIX.length?DM_PIX.length:DM_BPIX.length);var = mrl=3D2000,usd=3D0;d=3D_encd(d,_GCL2,1);for(var = shpd=3D0,f=3D1;((DM_FRAG)?(shpdd.length= ?1:0);if(!DM_FRAG){sts=3D0;}else if(f=3D=3D1&&lst=3D=3D0){sts=3D1;}else = if(f>1&&lst=3D=3D0){sts=3D2;}else = if(f>1&&lst=3D=3D1){sts=3D3;}else{sts=3D0;}hdr+=3Dsts+"/";usd=3D(prt+hdr+= bse).length+msl+8;dat=3Dd.substr(shpd,(mrl-usd-(d.charAt(shpd+(mrl-usd-1)= )=3D=3D'%'?1:(d.charAt(shpd+(mrl-usd-2))=3D=3D'%'?2:0))));hdr+=3D_pad(((D= M_RCRC)?_toHex(_crc32(dat)):0),8);_ship(rid+seq,prt,DM_PIX,DM_BPIX,hdr+bs= e+dat,0);seq++;}return 1;}function = _ship(srl,p,s1,s2,u,t){if(_sImg[srl]=3D=3Dnull){_sImg[srl]=3Dnew = Image(2,3);}if(t<2){_sImg[srl].src=3Dp+s1+u;}else = if(t<4){_sImg[srl].src=3Dp+s2+u;}_sImg[srl].onerror=3Dfunction(){setTimeo= ut("_ship('"+srl+"','"+p+"','"+s1+"','"+s2+"','"+u+"',"+(t+1)+")",5000);}= ;}function _addNV(n,v){_CNV+=3D(_CNV?"&":"")+n+"=3D"+v;}function = _genID(){return = _toHex(Math.floor(_DTE))+"-"+_toHex(Math.floor(Math.random()*Math.pow(10,= 16)))+"-"+_toHex(_crc32("".concat(_UDC.referrer,_UDC.cookie,_UNV.userAgen= t,_UTZ,screen.width,screen.height)));}function _sessID(){var = sID=3D_gc("DMSID");if(sID=3D=3Dnull){sID=3D_gc(_sc("DMSID",_genID(),DM_UI= DD,DM_UIDP,0,0));}return(sID);}function _sc(n,v,d,p,e,o){var _CDTE=3Dnew = Date();if((n!=3D""&&v!=3D"")&&(_gc(n)=3D=3Dnull||o=3D=3D1)){_CDTE.setDate= (_DTE.getDate()+e);_UDC.cookie=3Dn+"=3D"+v+(p!=3D""?";path=3D"+p:"")+(d!=3D= ""?";domain=3D"+d:"")+(e>0?";expires=3D"+_CDTE.toGMTString():"");}return = n;}function _gc(n){var co=3D_UDC.cookie;var = pos=3Dco.indexOf(n+"=3D");return = pos!=3D-1?co.substring(pos+n.length+1,(co.indexOf("; = ",pos)!=3D-1?co.indexOf("; ",pos):co.length)):null;}function = _encd(s,chrs,b){for(var = i=3D0,ns=3D"",c=3D"";i=3D0:chrs.indexOf(s.charAt(i))<0)){ns+=3Ds.charAt(i);}else{if((c=3D_CH= R.indexOf(s.charAt(i)))>0)ns+=3D"%"+_pad(_toHex(c),2);}}return = ns;}function = _crc32(buf){i=3D0;cnt=3Dbuf.length;crc=3D0xFFFFFFFF;while(cnt--!=3D0)crc=3D= _CRCTbl[(crc^_CHR.indexOf(buf.charAt(i++)))&0xFF]^(crc>>>8);crc^=3D0xFFFF= FFFF;crc=3D(crc&0x7FFFFFFF)+((crc<0)?0x80000000:0);return crc;}function = _appendToUrl(u,n,v){return = u+((u.indexOf("?")=3D=3D-1)?"?":"&")+n+"=3D"+v;}function _toHex(n){var = rmd=3D0,quo=3D0,hex=3D"";if(n<16){return = _hexc[n];}else{rmd=3D(n%16);quo=3DMath.floor((n-rmd)/16);return(_toHex(qu= o)+_toHex(rmd));}}function = _pad(d,p){d+=3D"";while(d.length=3D6){if(aTok[5].length>0){segs=3DaTok[5].split= (",");while(i

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