On June 8th 2007, Eirgrid published a paper on wind energy cost implications. See my blog, on 14th June 2007, for details and for correspondence I had with them regarding the, in my opinion, very optimistic price projections for gas. In essence that paper seemed to me to suggest that wind wasn’t fully economical unless gas reached €0.80/therm and the projections suggested that might never happen or if it did it might be after 2020.
A year ago I was confused that no account for risks associated with peak oil or peak gas were factored into the plans. So what happened?
Gas prices now are €0.20/therm higher than they were expected to be in 2026. Is there anyone on the planet that believes gas prices will fall by 30% between now and 2026? If there is I’d like to share their medication.