Early roll-out of floating offshore wind 'could add €14k to household energy bills over 20 years'

The calculations are based on the cost of generating electricity with these floating offshore projects, citing estimated bid prices of early projects off the North Sea, compared with the prices at Ireland’s first fixed wind turbine auctions. This is then considered against the average energy use of a home. File photo: AP/Steve Helber

Households could be subject to an extra €14,000 on their energy bills across 20 years if the Government was to roll out early-stage floating offshore wind projects now, internal analysis shows.

Calculations carried out by government officials show that, at present, if the coalition was to auction for floating offshore wind, it could hike energy prices for both households and enterprises.