Question reference: S6W-06458
- Asked by: Liam Kerr, MSP for North East Scotland, Scottish Conservative and Unionist Party
- Date lodged: 11 February 2022
Current status: Answered by Michael Matheson on 11 March 2022
To ask the Scottish Government, further to the answer to question S6W-05508 by Michael Matheson on 4 February 2022, whether it will provide its "internal analysis" that led it to conclude "that in 2030 alone Hinkley could add almost £40/year to a consumer bill".
Using Contracts for Difference published strike prices, the electricity being generated from offshore wind is currently priced at £39.65 per megawatt hour – compared to £92.50 per megawatt hour for the energy generated from Hinkley nuclear power plant. Using these figures, and UK Government estimates of future wholesale electricity costs, it can be seen that in 2030 alone, Hinkley could add almost £40 a year to a consumer bill, whilst the equivalent offshore wind farm would reduce consumer bills by £8 a year. This is due to the fact that in 2030, using these estimates, offshore wind prices will be lower than future average wholesale prices, whilst nuclear prices will be higher..