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Marginal cost of electricity[edit] Reliable, Affordable Power Source: Electricity Monthly Update. In 2016 the Norwegian Wind Energy Association (NORWEA) estimated the LCoE of a typical Norwegian wind farm at 44 €/MWh, assuming a weighted average cost of capital of 8% and an annual 3,500 full load hours, i.e. a capacity factor of 40%. NORWEA went on to estimate the LCoE of the 1 GW Fosen Vind onshore wind farm which is expected to be operational by 2020 to be as low as 35 €/MWh to 40 €/MWh.[108] In November 2016, Vattenfall won a tender to develop the Kriegers Flak windpark in the Baltic Sea for 49.9 €/MWh,[109] and similar levels were agreed for the Borssele offshore wind farms. As of 2016, this is the lowest projected price for electricity produced using offshore wind. Ofgem only looked into refunds owed by the big six. 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