Undisciplined on Nostr: The Destruction and Cronyism of the Green Agenda | The Libertarian Institute ...
The Destruction and Cronyism of the Green Agenda | The Libertarian Institute
https://libertarianinstitute.org/articles/the-destruction-and-cronyism-of-the-green-agenda/
Institute contributor Owen Ashworth on the dangerous of the Green Lobby.
"There is something more nefarious at work in the green agenda that dominates both political parties. To libertarians who realize how the state functions, it will comes as no shock that there appears to be cronyism involved. There exists something called Permitted Reduction contracts between energy generators and the de-facto government agency, the Low Carbon Contracts Company. Without going off on a tangent, the normal contract between an energy generator and the LCCC is a Contracts for Difference. However, a maximum of 25% of the original capacity of a project can be withdrawn from its original contract, the Contract for Difference, and rebid under the Permitted Reduction scheme. Hornsea Project Three Offshore Wind Farm was originally given a contract with an original capacity of 2,852MW. In the recent contract bonanza, they were awarded three separate contracts totalling 1,080MW. This figure represents 37.9% of the original capacity which would be in breach of the contract, so why has this company been allowed these permitted reduction contracts? Hornsea Project Three is owned by Ørsted and Hornsea Project Four, also owned by Orsted, and its non-executive director is Baroness Brown, a member of the British House of Lords."
originally posted at https://stacker.news/items/756579
https://libertarianinstitute.org/articles/the-destruction-and-cronyism-of-the-green-agenda/
Institute contributor Owen Ashworth on the dangerous of the Green Lobby.
"There is something more nefarious at work in the green agenda that dominates both political parties. To libertarians who realize how the state functions, it will comes as no shock that there appears to be cronyism involved. There exists something called Permitted Reduction contracts between energy generators and the de-facto government agency, the Low Carbon Contracts Company. Without going off on a tangent, the normal contract between an energy generator and the LCCC is a Contracts for Difference. However, a maximum of 25% of the original capacity of a project can be withdrawn from its original contract, the Contract for Difference, and rebid under the Permitted Reduction scheme. Hornsea Project Three Offshore Wind Farm was originally given a contract with an original capacity of 2,852MW. In the recent contract bonanza, they were awarded three separate contracts totalling 1,080MW. This figure represents 37.9% of the original capacity which would be in breach of the contract, so why has this company been allowed these permitted reduction contracts? Hornsea Project Three is owned by Ørsted and Hornsea Project Four, also owned by Orsted, and its non-executive director is Baroness Brown, a member of the British House of Lords."
originally posted at https://stacker.news/items/756579