• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 8 mins Oil prices going down
  • 2 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 2 hours Another WTH? Example of Cheap Renewables
  • 2 days Bullish and bearish outlook for oil
  • 2 days Rolls Royce shedding 4,600 jobs
  • 23 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 1 day When will oil demand start declining due to EVs?
  • 1 day Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 33 mins What If Canada Had Wind and Not Oilsands?
  • 2 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 6 hours China & India in talks to form anti-OPEC
  • 2 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 39 mins The Permian Mystery
  • 2 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 20 hours Gazprom Exports to EU Hit Record
  • 2 days OPEC soap opera daily update
Oil Prices Rebound On Crude, Gasoline Inventory Draws

Oil Prices Rebound On Crude, Gasoline Inventory Draws

Oil prices reversed on Wednesday…

The Bullish And Bearish Case For Oil

The Bullish And Bearish Case For Oil

All eyes in the oil…

Uruguay Developers Offer Cheaper Power from Private Wind Farms

Uruguay’s, Ministry of Industry, Energy and Mining Ramon Mendez, notined that by 2015 Uruguay could have $1.3 billion dollars of wind farms after developers promised cheaper electricity than that from conventional fuel powered plants.

Mendez added that Uruguay’s national power company Usinas y Trasmisiones Electricas (UTE) could purchase electricity from 600 megawatts of projects from companies that participated in an auction for new wind farms, four times more than expected.

Mendez said, “The bids are amazing. I was quite surprised when I first saw them,”
Diario El Pais newspaper reported.

 The companies participating in the auction included Spain’s Enerfin Sociedad de Energia SA, which offered to provide power for as low as $62.35 a megawatt-hour.

The bids have led Uruguay’s government to consider purchasing more wind power.

Wind power’s attractive low rates are not limited to Uruguay, as wind power companies in August submitted the lowest bids in a similar auction in Brazil.

Mendez noted that Uruguay’s average cost of electrical power generation is $73 a megawatt hour, which could drop as low as $45 within the next four years as Uruguay receives more of its energy from wind, biomass and liquefied natural gas-fuelled power plants.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News