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US wind PPA prices under pressure

Prices fall in the wake of a tax credit extension but are still up more than 10pc year on year

Power-purchase agreement (PPA) prices for wind power in the US fell 6.2pc in the first quarter of 2021 compared with the previous quarter, ending a 12-month upward trend, according to PPA trading platform operator LevelTen Energy. The decline comes after Congress in late December 2020 extended the Production Tax Credit (PTC) for wind power at a rate of 60pc of the full credit amount, or 1.8¢/kWh ($18/MWh), for another year through 31 December 2021. "I do not believe that the recent auction prices will set a new near-term benchmark for PPA prices in Spain" Sorensen, LevelTen “The extension of renewable PTCs in December 2020 appears to have tapered [the recent price increases]. 

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