Given that Ireland now has in total about 3,500MW of wind, we should, if the wind energy supporters are right, see wind energy eroding profits in ESB generation.
But their latest results show that their Generation and Trading business has increased it's profits by € 26 million to € 70 million. Although there was lower running in Moneypoint, this was more than offset by a higher margin in gas plants.
A breakdown of this profit is not given, but we can safely assume that most of it came from fossil fuel generation since that comprises 80% of their business as I have shown above. It is indicative that during the same period, there was an impairment charge (i.e. a write down) of €1.8 million for a wind farm.
So almost a decade on from Ireland's Renewable Energy Action Plan which stated that :
Renewable energy reduces dependence on fossil fuels, improves security of supply, and reduces greenhouse gas emissions creating environmental benefits while delivering green jobs to the economy, thus contributing to national competitiveness.
we can now see that wind energy does not reduce dependence on fossil fuels, rather, it maintains dependence on it.
