Decline in capital spending value does not mean investment growth has halted.
FT 20th July 2018 read more »
The unusually good weather in Scotland has led to a drop in the electricity being generated by onshore wind farms because turbines have ground to a halt. Power generation is down about 15 per cent in the period from late May until mid-July on what would be expected during a normal Scottish summer, according to industry sources. It has added to criticism about the unreliability of wind power as Scotland tries to move to a low-carbon economy. Turbines have also been forced to shut during storms, when there is too much wind, to avoid damage. Concerns have been raised that this intermittent supply could have an impact on the Scottish government’s target for renewable energy sources to be able to generate 100 per cent of Scotland’s gross annual electricity consumption by 2020. However, experts insist that the warmer weather has also meant less electricity is being used and there is enough spare generation available. Other renewable sources of power, such as offshore wind generation, have been largely unaffected by the weather. SSE, the Scottish energy company, has said that lack of wind was one of the key factors that caused its profits to be approximately £80 million lower than expected during the three months since April.
Times 21st July 2018 read more »