The operator of a large offshore wind farm in Scotland will pay $42.4 million £33.14 million to the UK’s energy market regulator for breaching rules after overcharging for having to reduce wind generation when required. Electricity generator Beatrice Offshore Windfarm Limited BOWL has accepted that it breached one of its license conditions and will make a redress payment of $42.4 million £33.14 million as a result, the regulator Ofgem said in a statement on Tuesday.
The operator of the wind farm has also committed to making changes to its bid pricing policy to ensure a breach does not happen again. Since the start of 2023, Ofgem has now fined five wind farm operators for breaching market rules, the regulator said. Earlier this year, a Bloomberg investigation found that some wind farm operators in the UK have been overestimating forecasts of the power they would generate, leading to millions of British pounds added to consumer energy bills each year.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: LiveLancs - 🏆 10. / 87 Read more »