{"id":256666,"date":"2023-05-09T21:27:18","date_gmt":"2023-05-09T19:27:18","guid":{"rendered":"https:\/\/climatescience.press\/?p=256666"},"modified":"2023-05-09T21:27:29","modified_gmt":"2023-05-09T19:27:29","slug":"beatrices-missing-output-the-plot-thickens","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=256666","title":{"rendered":"Beatrice\u2019s Missing Output\u2013The Plot Thickens!"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

I\u2019ve now got some more information concerning the \u201cmissing\u201d 551 GWh of output at Beatrice Offshore Windfarm in their y\/e March 2022.<\/p>\n\n\n\n

You will recall that their Annual Accounts listed output as 2084.7 GWh, but the amount they declared to the LCCC for CfD purposes was only 1533.6 GWh.<\/p>\n\n\n\n

Andrew Montford has provided data on the constraint payments to Beatrice, and for that year they were paid \u00a333.1 million for constraining output of 539.9 GWh. In other words pretty much all of the missing output was constrained, i.e. not exported to the transmission network.<\/p>\n\n\n\n

The constraint payment to Beatrice averages \u00a361.42\/MWh. Yet their guaranteed strike price via CfD was \u00a3164.73\/MWh at that time, so they certainly would not have given up that revenue just for the constraint payments.<\/p>\n\n\n\n

And, as we know, they did not give it up. Let\u2019s do a few sums.<\/p>\n\n\n\n

    \n
  • The revenue from the 1533.6 GWh, which was declared for CfD, would have been \u00a3252.6 million, at \u00a3164.73\/MWh<\/li>\n\n\n\n
  • The total revenue listed in the Annual Accounts was \u00a3392.9 million.<\/li>\n\n\n\n
  • Constraint payments were \u00a333.1 million.<\/li>\n\n\n\n
  • Therefore other income, that is excluding CfD and constraints, amounted to \u00a3107.2 million, and equates to \u00a3198.55\/MWh, based on the constrained 539.9 GWh.<\/li>\n<\/ul>\n\n\n\n

    In short then, Beatrice has not only received \u00a333 million from constraint payments, it appears to have sold all of that output anyway. Worse still, the price they received from that sale was higher than their strike price.<\/p>\n\n\n\n

    The mystery now is just where that missing electricity went.<\/p>\n","protected":false},"excerpt":{"rendered":"

    In short then, Beatrice has not only received \u00a333 million from constraint payments, it appears to have sold all of that output anyway. Worse still, the price they received from that sale was higher than their strike price.<\/p>\n","protected":false},"author":121246920,"featured_media":256670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819439,691818345],"class_list":{"0":"post-256666","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-beatrice","9":"tag-cfd","11":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00YAYMFVFJU4W0MJ00I1L8.jpg?fit=1657%2C1080&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-14LM","jetpack-related-posts":[{"id":256209,"url":"https:\/\/climatescience.press\/?p=256209","url_meta":{"origin":256666,"position":0},"title":"Beatrice\u2019s Missing Output","author":"uwe.roland.gross","date":"05\/06\/2023","format":false,"excerpt":"When I looked at Beatrice\u2019s Accounts the other day, I noticed an anomaly that stuck out like a sore thumb. As I have been away cycling for a couple of days, I wanted to recheck my calculations again.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":256155,"url":"https:\/\/climatescience.press\/?p=256155","url_meta":{"origin":256666,"position":1},"title":"CfD Indexation Is A Rip Off","author":"uwe.roland.gross","date":"05\/05\/2023","format":false,"excerpt":"We have been looking at indexation of CfD strike prices. So let\u2019s look at an example of how it works in practice.","rel":"","context":"In \"Contracts for Difference (CfD)\"","block_context":{"text":"Contracts for Difference (CfD)","link":"https:\/\/climatescience.press\/?tag=contracts-for-difference-cfd"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0what-is-CFD.jpg?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0what-is-CFD.jpg?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0what-is-CFD.jpg?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0what-is-CFD.jpg?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/0what-is-CFD.jpg?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":242144,"url":"https:\/\/climatescience.press\/?p=242144","url_meta":{"origin":256666,"position":2},"title":"Beatrice Has Been Paid \u00a3614 Million In Subsidies Since 2019","author":"uwe.roland.gross","date":"01\/29\/2023","format":false,"excerpt":"Beatrice as a whole, i.e. not just the Chinese share, made \u00a398 million profit last year, after depreciation and finance charges","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-1258.png?fit=1200%2C782&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-1258.png?fit=1200%2C782&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-1258.png?fit=1200%2C782&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-1258.png?fit=1200%2C782&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-1258.png?fit=1200%2C782&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":223120,"url":"https:\/\/climatescience.press\/?p=223120","url_meta":{"origin":256666,"position":3},"title":"How windfarms charge you twice for the same electricity","author":"uwe.roland.gross","date":"10\/10\/2022","format":false,"excerpt":"But is it actually happening?","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-460.png?fit=1200%2C632&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-460.png?fit=1200%2C632&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-460.png?fit=1200%2C632&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-460.png?fit=1200%2C632&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-460.png?fit=1200%2C632&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":351340,"url":"https:\/\/climatescience.press\/?p=351340","url_meta":{"origin":256666,"position":4},"title":"Another windfarm surpasses \u00a31 billion in subsidy\u00a0payments","author":"uwe.roland.gross","date":"11\/16\/2024","format":false,"excerpt":"The Beatrice Offshore Windfarm has become the fourth windfarm to have received more than \u00a31 billion in subsidy payments. The landmark was reached in just its seventh year of operation, suggesting that it could reach \u00a32 billion over the course of its subsidy agreement.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0YAYMFVFJU4W0MJ00I1L8.jpg?fit=1200%2C782&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":363795,"url":"https:\/\/climatescience.press\/?p=363795","url_meta":{"origin":256666,"position":5},"title":"Record \u00a32.4 Billion in CfD Subsidies Paid Out in 2024","author":"uwe.roland.gross","date":"01\/29\/2025","format":false,"excerpt":"Hot on the heels of the record payments made under the Feed-in-Tariff scheme in the year to end March 2024, the data is now available for subsidies paid under the Contract for Difference Scheme (CfDs) in calendar year 2024. The data comes from the Low Carbon Contract Company (LCCC). 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