The UK government has cancelled a £24 billion plan to bring Moroccan wind and solar power to Britain via the world's longest subsea electricity cable, citing concerns over security and costs. The project, championed by Xlinks, was unveiled in 2022 with a headline price tag of £16 billion, but costs had ballooned to £22-24 billion by the time official talks fizzled. The fixed, subsidised price for UK consumers had also climbed from £48/MWh to £70-80/MWh, making it unviable. Officials admitted that the project carried a high level of inherent, cumulative risk, including delivery, operational, and security risks. The project's demise is a blow to the techno-utopian vision of a global green grid, and exposes the fundamental flaw of top-down climate technocracy. The government's decision to walk away from the project is a recognition that domestic alternatives are more viable and less risky. The project's failure is a rare moment of clarity amid the Net Zero hysteria, highlighting the importance of domestic control and energy security. Citizens will not subsidise fantasy-grid fantasies when they can invest in less risky generation at home. The project's collapse is a reminder that even the most elaborate green schemes are only as sound as their financial footings and geopolitical foundations. The government's decision to prioritize domestic alternatives is a step towards a more realistic and modest approach to energy policy.
zerohedge.com
zerohedge.com
