Royal Mail buyer's company earning millions from wasted wind power [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
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Source: Yahoo! Finance
A total of £400m was spent last year on so-called curtailment , when wind turbines are told to stop generating because the grid is too congested to accept their power. Firing up alternative plants – in many cases gas-fuelled ones – to replace this electricity elsewhere on the system also costs the taxpayer upwards of £600m. Some wind farm companies are making tens of millions of pounds from the switch-offs, according to analysis for The Telegraph. They include SSE, which made an estimated £138m in 2024, while Moray wind farms owner Ocean Wind made £92m, French state power company EDF took £25m and Scottish Power, which is owned by Spain's Iberdrola, another £13m. SSE also made an estimated £179m from providing replacement gas-fired power generation in the same year, while another £92m was made by EP UK, the energy business owned by Daniel Kretinsky, who is buying Royal Mail for £3.6bn. German power giant Uniper also made £131m, while Vitol Group's VPI and Intergen received
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