Offshore wind smashes price records in third CfD auction round

The UK’s offshore wind sector has smashed records for price in the government’s third Contracts for Difference auction round, with prices running as low as £39.65/MWh.

The Department for Business, Energy and Industrial Strategy (BEIS) this morning unveiled the hotly anticipated auction results, confirming that 6GW of new offshore wind capacity will be delivered at prices as low as £39.65/MWh.

That price is 30% lower than the lowest strike price seen in the second CfD auction in 2017, when projects came forward at £57.50/MWh.

UK Prime Minister Boris Johnson said:

“The UK is leading the way in the fight against climate change, and it’s great news that millions more homes will be powered by clean energy at record low prices.

“Seizing the opportunities of clean energy not only helps to protect our planet, but will also back businesses and boost jobs across the UK.”

Read more: Current News

By |2019-09-30T15:36:37+00:00October 5th, 2019|Energy and Climate Change, News, Power Generation, Renewable Energy, Wind|
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