CONTRACTS FOR DIFFERENCE ANNOUNCEMENT
FIRST CONTRACT FOR DIFFERENCE AUCTIONS (CFDS)
The long awaited CfD auction results were made known during RenewableUK’s Wave & Tidal Event held recently in Edinburgh.
We have accumulated some of the industry’s leading organisations’ comments to give you a flavour of how the results were received by the industry generally – in short I would suggest the results are a big positive which has already curtailed some of the negative media coverage experienced recently regarding renewable energy costs/subsidies etc.
So a big well done to all of the companies/ organisations who have developed projects and programmes designed to not only reduce overall renewable energy costs now but will ensure costs continue to fall in the future.
RENEWABLEUK
The leading professional membership for the renewable energy industry in the UK comments on the results of the first auctions for renewable power held under the Contract for Difference regime…
The regime, instituted by the 2013 Energy Act, gives renewable power developers contracts detailing a set amount – or 'strike price' for each megawatt hour (MWh) of power they produce. Developers are given a guarantee that they will receive this price for each megawatt hour for fifteen years of operation.
CONTRACT AWARDS
Contracts were awarded to two offshore wind farms, one in England and one in Scotland: East Anglia Phase 1 and Neart na Gaoithe, a total of 1162 MW capacity, with strike prices varying between £114.39 and £119.89 per MWh. Contracts were also awarded to fifteen onshore wind farms, across England, Scotland and Wales. The onshore wind farms awarded contracts equated to a total of 748.55 MW capacity, with average strike prices for each year varying between £79.23 per MWh and £82.50 per MWh.
Commenting on the results of the auctions, RenewableUK Chief Executive Maria McCaffery said: “We are pleased to see these projects, which between them could power over 1.2 million homes and create substantial numbers of jobs and much needed investment in our communities, moving forward.
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www.windenergynetwork.co.uk
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