Seagreen wind farm delays start of UK government contract to cap electricity profits
Updated
Updated · Bloomberg · Apr 27
Seagreen wind farm delays start of UK government contract to cap electricity profits
10 articles · Updated · Bloomberg · Apr 27
Owners SSE Plc and TotalEnergies SE will postpone about 13% of Seagreen’s capacity from entering the fixed-price contract until autumn, instead of the planned March start.
This move allows the wind farm off Scotland’s east coast to sell power at higher market rates, increasing short-term profitability compared to the government-capped price.
The delay reflects a broader trend of renewable energy projects seeking to maximize returns amid fluctuating energy prices, potentially impacting government subsidy mechanisms and market stability.
A wind farm just delayed its price-cap deal. Is the UK's renewable energy system broken?
Can Scotland hit its ambitious 2045 net-zero target with key projects chasing market prices?
Is TotalEnergies' pivot to market prices a smart move or a risky bet against government partnerships?
How can a company claim climate commitment while delaying a green contract for higher profits?
Will exploiting energy contract loopholes become the new norm for raising consumer bills in the UK?