Octopus Energy ‘Unlocks Low-Cost Future’ With Plan To Power 7M Homes With Undersea Cables
By Antony Ashkenaz
Experts largely agree that the crippling energy crisis faced by millions of British families right now is mainly down to the fluctuations in the fossil fuel energy market, particularly since Russia invaded Ukraine in February. However, as the UK invests in renewable energy generation to phase out oil and gas, critics have argued sources like wind and solar energy are not consistent, and could throw the UK into a crisis “if the wind doesn’t blow or the sun doesn’t shine.”
However, Octopus Energy, a UK based firm, has hit back at those concerns by building the Xlinks project, which consists of four 3,800km long cables that will connect the UK to a huge solar farm in Morocco.
Aside from harnessing 10.5GW of renewable electricity from solar farms with an average of 20+ hours a day, Xlinks has previously noted the cable will provide clean, renewable energy at half the price of what the UK will pay for their upcoming nuclear power plant Hinkley Point C.
At £48/MWH(US$57.50 MWH), the expected cost of the energy from the Xlinks cable is far lower than the £92.50 the Government has agreed to pay for Hinkley Point C, which could help ease the current energy crisis, which is throwing millions of Britons into fuel poverty.
Speaking to Express.co.uk, Octopus Energy said: “The sun doesn’t always shine and the wind doesn’t always blow in the UK – but they always do somewhere in the world, providing incredibly low-cost power.
