•  
  •  
  •  

UK CfD auction gets slightly higher budget, details confirmed

Offshore wind farm in British waters. Author: Beverley Goodwin. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

May 3 (Renewables Now) - The overall budget for the third Contracts for Difference (CfD) auction in the UK has been increased to GBP 65 million (USD 84.7m/EUR 75.6m) from GBP 60 million in the draft proposal, and the final details have been confirmed.

The allocation round starts on May 29 and will be open to all so-called Pot 2 less-established technologies such as offshore wind, geothermal power, remote island wind, and marine power, among others. All projects have to be delivered in 2023-2024 and 2024-2025.

In the document dated May 1, the Secretary of State for Business, Energy and Industrial Strategy announced the strike prices proposed by the government for the separate technologies. See the table for details. All prices in it are in GBP/MWh in 2012 prices, while a more recent price base can be calculated using a CPI index.

Technology 2023/24 strike price 2024/25 strike price
Advanced conversion technologies 113 111
Anaerobic digestion (> 5MW) 122 121
Dedicated biomass with CHP 121 121
Geothermal 129 127
Offshore wind 56 53
Remote island wind (> 5MW) 82 82
Tidal Stream 225 217
Wave 281 268

The government expects to contract 6 GW of capacity with this round.

(GBP 1 = USD 1.3/EUR 1.16)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription