Contracts for Difference
The UK Government plans to encourage offshore wind companies to cut their carbon footprint by providing extra payments in Allocation Round 7 of the Contracts for Difference scheme, scheduled to launch in 2025
The Chancellor has confirmed over £1 billion budget for the sixth Contracts for Difference allocation round during the Spring Budget, with £800 million directed towards offshore wind projects
Chancellor Jeremy Hunt has announced the Budget today, including a 2p reduction in National Insurance for workers
Ofgem has secured £5.53 million penalty from Dorenell Windfarm Limited for excessive pricing, directing funds to support energy consumers
Scottish Renewables urges UK Government to act swiftly ahead of the CfD funding round, crucial for unlocking Scotland’s offshore wind potential
The National Infrastructure Commission’s Chair has urged the government to expedite measures facilitating private investment in decarbonising the electricity sector
A total of 14 offshore wind projects qualify for the auction, offering potential new capacity of nearly 10.3GW, according to a report
Cornwall Insight’s latest forecast predicts a £21 increase in the April price cap to £1,656 per year for a typical dual fuel household
Energy UK has urged the government to boost offshore wind capacity in upcoming auctions to meet 2030 targets
The government announced increased auction strike prices for offshore wind and renewable projects in Auction Round 6