On a power trip
Madam –Nick Webb tells us that wind farm owners were paid €10m not to produce power last year (Sunday Independent, April 27, 2014). To the layman the windies cannot lose. Too windy? Shut down but pass on costs to customers. Not windy enough? Don't worry, tot up the loss and pass it on to customers. It's an ill wind that doesn't benefit somebody.
Whilst studying economics the power of the invisible hand of the "market" was drilled into me. It would intervene as needed, checks and balances, weeding out the weak, setting bearable costs and prices and incentivising the innovative.
The opposite was the Soviet communist system of state intervention and distortion of free market forces.
Along comes the collapse of the banks and builders in 2008. Did the "market" and its invisible hand intervene?
Hell no, instead we got a Soviet-style bailout of the powerful and wealthy with their debts transferred to the serfs. Market forces and capitalism my arse. The high and mighty were saved and the rest of us were left to sink or swim.
Do those who set up energy projects actually think of the consumer or is everything geared to profit: heads they win, tails they win? Or do some teams play with the wind to their backs in both halves?
Dunboyne, Co Meath
MAY-BE THE BEST INTERVIEW EVER
Madam – I've just read that interview with Imelda May by Barry Egan (Life, Sunday Independent, April 27, 2014). I think it's the most amazing and funny interview I have ever read. It was brilliant.
CUT FROM THE SAME CLOTH
Madam – Hallelujah. An article on fashion in Life magazine for older women! More of Mary Kennedy and her ilk, please.