Tag Archives: Demand 54% Hike
BP & Equinor Demand 54% Hike In Offshore Wind Power Price Increases
BP PlcBP and partner Equinor ASA EQNR are demanding a 54% hike in electricity prices produced at three offshore wind farms in the United States, per a Reuters report. The companies obtained the rights to develop the Empire Wind 1, Empire Wind 2 and Beacon Wind farms offshore New York. Several projects were awarded, and spikes in inflation forced energy companies to hedge equipment and labor at much higher prices than expected. The strike price for Empire Wind 1 would rise from $118.38 per megawatt hour (MWh) to $159.64 per MWh and for Empire Wind 2 from $107.50 per MWh to $177.84 per MWh. Beacon Wind would witness the strike price increase from 118.00 per MWh to 190.82 per MWh. >>click to read<< 11:29
