David Edmonds

speaker

143 appearances 1 recordings 1 series first heard Jul 2026 last heard 14 Jul

David Edmonds’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Talking New Energy · 248. Are wind PPAs about to become more expensive? · 14 Jul 2026 podcast

But in the short run, we can see huge variability in how much we earn against that.

But that's actually the role we're playing as an off taker.

to protect generating developers from that and smooth out their earnings uh by managing that risk.

Yes.

So we might have given a generator a eighty pounds a megawatt hour as a price and said, that's what we're gonna pay you.

We can hedge that to some extent.

We can sell forward the the power at the time we're pricing the contract.

But what we can't hedge against is what that power's actually going to be worth when you know when the wind's gonna generate and you've got to take additional sell actions or buy back some of your hedge to manage the half hourly position.

So what we could see out

Turn against that price of eighty pounds a megawatt that we've given to the generator is actually the power might be worth more than that, or it might be worth a lot less than that.

But that will vary a lot from month to month, season to season and and year to year.

Yeah, so I guess the first thing it's really useful to get an independent industry analysis of what's going on because it there's not loads of focus on the costs for off takers and and these sorts of shaping costs out there around the industry.

Um and that's part of the reason why we asked to see this to can we validate or challenge our own view and where we're forecasting this, pricing this, it's always useful to see are we undervaluing this, are we overvaluing this?

And I think one of the the interesting bits that comes out of this, I mention it's one of the biggest risk premiums that we price in.

I think from comparing the analysis results that you've presented to where we maybe see some PPAs being priced in the market at the moment, it's possibly one of the most undervalued risks that's out there as well.

So that is a bit of a concern for the sustainability of the sector going forwards and the future of it.

I think that's why this is particularly

Important to flag through this sort of report.

I guess looking a bit further ahead, I mean, I mentioned the variability of costs that we've seen outturn and kind of continuing to manage that going forward is a big concern.

If you look at just the last few months and the capture rates of wins, so by a capture rate, looking at the volume weighted average price at the day ahead point compared to the baseload, more simple average price.

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