Offshore Wind Price - 4mln GBP/MW!!

Centrica's declaration that offshore wind costs are 'alarming' is not good news, again, for an industry that's taking a decade to get out of its infancy. At 4 billion GBP per MW installed, that's topping nuclear and bringing UK offshore to a screeching halt. Luckily (wink) the UK doesn't have horrendous grid bottlenecks at its Scotland-UK interconnector. Luckily most suppliers aren't scrambling for renewables obligation certificates that are becoming scarce while targets are being increased through 2020. Luckily project permitting isn't a 4 year battle between the RSPB, local residents, and the Executive that thwarts large scale projects. The UK needs the generation capacity too badly for these problems to persist for too long - but as the global recession bears down, 4 mln/M prices for offshore doesn't help.