Part ownership of a Ripple Wind Turbine, fancy it?

[nowty]

Do you have any more info on what zonal pricing would look like or how it would work Nowty?

There is a bit about locational pricing here,
https://camelot-forum.co.uk/phpBB3/view ... 423#p44423

At the AGM last night it was stated that the current favoured option by the government was Zonal, we know the more complicated Nodal has already been ruled out.

Sarah explained that, in each zone the generating capacity would be compared with the consumption in that zone and the ratio will dictate the maximum leccy price that a generator can sell the leccy for. I don't know if that would be a fixed thing and reviewed periodically or a dynamic price depending on live conditions. At the moment its a single price nationwide.

The idea is that consumers who live in the areas with most generation will benefit from cheaper leccy prices and will provide incentives for industry to move there to take advantage of cheaper leccy. Likewise it will also incentivise more building of renewable generation in the south.

I'm not that bothered about locational pricing as its been known for a long time and makes sense for local people to benefit from cheaper energy prices. I see the potential changes to the Coop rules to be more of an existential threat and something I previously knew nothing about. It also begs the question when did Ripple know about these potential changes as its the first time they have mentioned them.

[djh]

"I'm not that bothered about locational pricing as its been known for a long time and makes sense for local people to benefit from cheaper energy prices."

As somebody who lives in GB6 I am quite concerned. "Local" covers a multitude of sins when it includes south Wales, Bristol and the whole M4 corridor, London, parts of the midlands and the whole of east anglia. I can imagine there's a lot of demand due to London that doesn't feel 'local' to most of the rest of that locality!

[nowty]

Some links to the Coop consultation, I've not gone through it myself yet,

https://lawcom.gov.uk/reform-of-co-oper ... -proposed/

https://consult.justice.gov.uk/law-commission/coops/

https://www.uk.coop/get-involved/law-commission

[nowty]

Link to the recorded GF AGM last night,
Info on Coop reform is from 39:05
Info on locational pricing from 45:00

[nowty]

"I'm not that bothered about locational pricing as its been known for a long time and makes sense for local people to benefit from cheaper energy prices."

As somebody who lives in GB6 I am quite concerned. "Local" covers a multitude of sins when it includes south Wales, Bristol and the whole M4 corridor, London, parts of the midlands and the whole of east anglia. I can imagine there's a lot of demand due to London that doesn't feel 'local' to most of the rest of that locality!

To clarify, I really mean Scotland vs England and Wales as thats the largest discrepancy between current renewable generation and load demand. And as I have a Ripple project in all 3 countries, it all evens out.

EDIT - Don't take the zonal map as the final solution and it might still never happen.

[djh]

as I have a Ripple project in all 3 countries

I'm not really bothered about Ripple. I am concerned about the price I pay for electricity being even more dependent on London than it already is!

[Fintray]

Kirk Hill savings rate from 1st January to 31st March 2025 Co-op (Octopus) 6.30p/kWh.
EON 6.50p/kWh and Good Energy 7.20p/kWh.

[nowty]

Kirk Hill savings rate from 1st January to 31st March 2025 Co-op (Octopus) 6.30p/kWh.
EON 6.50p/kWh and Good Energy 7.20p/kWh.

That might calm the AGM down a bit.

EDIT - I wonder if the 3 companies sent their bids in at different times, i.e Octopus first, EON a bit later and Good Energy the last. I say this as the year ahead wholesale price has been ticking up from 8p to 9p over the last month.

EDIT EDIT - And the price might keep up on the next review as summer 2025 gas is extraordinarily expensive.
https://archive.ph/IVg34

[SporranMcDonald]

Kirk Hill C-op AGM :

From their principal accountant "Will" - An apology and full acceptance of responsibility for the delayed Accounts. He told us that he was overwhelmed by the workload, including the additional workload caused by the CDF ( Contract For Difference ) proposal and subsequent partial implementation.
Ripple have recruited an additional staff person for the accounting workload.

Ripple acknowledge the concern caused and state that the situation will not happen again and is now on their "Risk List" ongoing.

In the wider context - from this AGM - I'm getting a clearer view of the what Ripple have achieved and the extraordinary complexity involved.

I had to abstain from "Approval of Accounts" as I found them incomprehensible.

[nowty]

"Will"iam Dodd is the CFO and one of the original Co-Owners of Ripple, I have spoken with him personally on at least 2 or 3 occasions. He knows his stuff and was able to answer all the questions at the AGM last night even if he did not come across quite so succinctly. I do feel a little sorry for him as he has some type of stutter (like myself) and also his microphone kept cutting out.

In my opinion there were some quite unfair postings about him on the facebook group last night.

The KH accounts are difficult to comprehend because of the SPV and Coop structure and that the period they are for is before the wind farm went into operation. With assets under construction accounts are always hellish to read. In comparison for the GF accounts, there was a nice single page breakdown at the end which gave a more easy to read breakdown of the annual income vs costs and there were 2 years of operation so a comparison could be made.

A couple of other things I gleaned from the AGM were,

1) The debt is forecasted to be paid off in 20 years based on a P90 level (prudent) of generation, I am assuming thats based on the CFD level of income.

2) The CFD needs to have 3 of the turbines separately metered for the CFD to be possible. Some turbines are in a physically better position to generate more energy so I don't know how they will choose the actual 3 turbines. There is a possibility if the additional metering costs are too high the CFD won't be implemented.

3) The balancing mechanism paperwork has not yet been sent through from NESO so it it likely to be several more months before that gets sorted out so the wind farm won't be curtailed through the balancing mechanism just yet. Non compensated local curtailment may still occur but there has been very little.

4) The technical availability of the turbines has been increasing since the start of operations as teething problems are sorted out.

5) The savings from start of next month will be similar to GF and importantly for me will align favourably to the cheap slot price I pay on the IOG tariff, so its almost a kWh generation for a kWh of my imports.