Argonautica

We all already know that investors are susceptible to herd-like behaviour: from the South Sea Bubble of 1720 to the “permanently high plateau” for stocks in 1929, and more recently the “dot com” mania of 1999 or of late bitcoin and “cryptocurrency”. These investment bubbles, which always seem easy to identify in hindsight, have always had their messianic talismans and price insensitive believers. 

Rumours are circulating that the UK government will set the March 2024 6th round CFD guaranteed price for offshore wind at £70-75 per MWh.

SIR – Ambrose Evans Pritchard quotes selectively from my research in “The Orsted fiasco will not derail the onward march of offshore wind”.

It wasn’t easy growing up being called DONG, so in 2017, the world-leading offshore wind farm developer changed its name to Orsted, alluding to the famous Danish electrical scientist. Today the company formerly known as DONG announced another $4billion impairment to its US offshore wind assets and said it would cease development of two projects off the coast of New Jersey: Ocean Wind 1 and Ocean Wind 2.