[Peakoil] Utilities giving away power as wind, sun flood European grid

[W & C Steensby]

Now here's something interesting:

Utilities giving away power as wind, sun flood European grid
http://www.bloomberg.com/news/2011-09-29/utilities-giving-away-power-as-wind-sun-flood-european-grid.html

Second paragraph: "Rather than an anomaly, the event marked the 31st hour this year when power companies lost money on their electricity in the intraday market because of a torrent of supply from wind and solar parks. The phenomenon was unheard of five years ago."

This greatly complicates investment decisions, as you might imagine.

Another para: "Photovoltaic and solar-thermal plants may meet most of the world’s demand for electricity by 2060 -- and half of all energy needs -- with wind, hydropower and biomass plants supplying much of the remaining generation, the International Energy Agency said in August."

Regards,
Walter