The Anonymous Widower

Thoughts On The Mini-Budget

This article on the BBC is entitled At A Glance: What’s In The Mini-Budget?.

If nothing else KK has whipped up a storm, with the most tax-cutting budget in decades.

But!

According to my calculations in Will We Run Out Of Power This Winter?, the planned offshore wind that will be installed between 2022 and 2027 will be at least 19 GW. About 3 GW of this offshore wind is already producing electricity.

To this must be added 3.26 GW for Hinckley Point C, 2 GW for solar and 0.9 GW for onshore wind in Scotland, which will be developed by 2027.

So we have 25.2 GW for starters.

Following on from this is the 27.1 GW from ScotWind, about 4 GW from the Celtic Sea, 3 GW from Morecambe Bay and 10 GW from Aker’s Northern Horizons. All of these are firm projects and some are already being planned in detail.

These wind and solar farms are the collateral for KK’s borrowing.

The corporate tax changes will hopefully attract world class energy and manufacturing companies to set up UK-domiciled subsidiaries to develop more offshore wind farms and manufacture the turbines and the electrical gubbins close to where they will be installed.

As more wind farms are built, many GW of electricity and tonnes of hydrogen will be exported to Europe.

Note that 1 GW for a day costs around £ 960,000 and for a year costs £350.4 million.

A big benefit of all this electricity, will be that we won’t need to frack.

Technologies like green hydrogen, that will be created by electrolysis will reduce our need for gas.

We might develop a gas field like Jackdaw, to give us gas for a backup with a few gas-fired power stations, for when the wind doesn’t blow, but gas will only have a minor roll.

The force of the maths is with KK!

September 23, 2022 - Posted by | Energy Storage, Hydrogen, Energy | , , , , , , , , , , ,

7 Comments »

  1. Changing the planning system should speed up installation but you have to book the heavy lift seaborne cranes years in advance as well getting deliveries of the kit when everyone else in the globe is chasing wind farms means it won’t make a difference for several years i would suggest.

    On fracking i see them just playing to the right wing audience and nothing materially will happen for sometime if ever.

    Comment by Nicholas Lewis | September 23, 2022 | Reply

    • Many of these wind farms will be floating. They will be assembled alongside a dock with a large dockside crane and towed out. They are towed back in for servicing. If a company was developing two or three floating web farms from the same base, there must be good saving to be made.

      I think some people, like Rees-Mogg, see fracking as a short term solution. I doubt it’s a quick and easy solution, as it will be fought for years by the Nimbys. Also, if say one blew up, there would be a halt to all fracking, so it’s a big investment risk.

      If environmental assessments are done properly, few will object to a wind farm, that is a hundred miles out to sea!

      Comment by AnonW | September 23, 2022 | Reply

      • Interesting they must need very calm sea state to move one of those with a 150-200m top heavy tower but it would certainly make construction a lot simpler I agree.

        Comment by Nicholas Lewis | September 23, 2022

  2. > These wind and solar farms are the collateral for KK’s borrowing.

    How do you use something you don’t own as collateral?

    Comment by Brian Armitage | September 23, 2022 | Reply

    • You have the Crown Estate leases and the taxes from the developers.

      Comment by AnonW | September 23, 2022 | Reply

  3. It seems turbine manufacturers are facing a hard time because of escalating material prices and what they consider to be an overly competitive energy price landscape which has resulted in a number of these firms laying off staff.
    On that basis the idea that the reduction in corporation tax could lead to these manufacturers setting up manufacturing facilities looks to be overoptimistic.
    The following link expands on the subject https://www.en-former.com/en/europes-wind-oems-caught-between-a-rock-and-a-hard-place/?etcc_med=SEA&etcc_par=Google&etcc_cmp=windpowerneu&etcc_grp=138912266602&etcc_bky=wind%20turbine%20manufacturers&etcc_mty=b&etcc_plc=&etcc_ctv=601376930368&etcc_bde=m&etcc_var=Cj0KCQjwsrWZBhC4ARIsAGGUJupK4Bd3IWhUVRJQpgr_VJuCMQQIYN4atjLf_YG6WrceQxkPc6jQvvcaAhyYEALw_wcB&gclid=Cj0KCQjwsrWZBhC4ARIsAGGUJupK4Bd3IWhUVRJQpgr_VJuCMQQIYN4atjLf_YG6WrceQxkPc6jQvvcaAhyYEALw_wcB

    Comment by fammorris | September 23, 2022 | Reply

  4. This video shows the construction of a floating wind turbine and its tow-out.

    https://www.principlepower.com/

    Comment by AnonW | September 23, 2022 | Reply


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