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1 January 2005
The dramatic fall of the dollar against the euro befuddles comparisons of power generation costs, particularly when tracking trends over time. After six years based on dollar rates, our annual costs report this year uses the euro, thus avoiding the currency distortions that would make all power projects outside the dollar markets appear more expensive than in the past. Since most wind turbines are made in Europe, there is also a certain logic in sticking to it. The exchange rate used is $1.3 to EUR 1.0.
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