Future generation: The evolution of the CfD auction The latest Contracts for Difference auction saw offshore wind return to the table. While welcome, experts have stressed this must be simply the start of a rapid acceleration for the technology if it has any chance of fulfifilling its lauded potential

Labour has been left playing catch-up after the turmoil of last year's auction, which failed to attract a single bid from an offshore wind developer. The Offshore Renewable Energy (ORE) Catapult said eight new offshore projects with a total capacity of 5.4GW were eligible to bid in the auction...

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Bibliographic Details
Published inUtility Week p. 8
Main Author Grimwood, Tom
Format Trade Publication Article
LanguageEnglish
Published Sutton NLA Media 12.09.2024
Subjects
Bids
Offshore
Prices
Renewable energy
Supply chains
Wind
Wind farms
United Kingdom > UK
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Summary:Labour has been left playing catch-up after the turmoil of last year's auction, which failed to attract a single bid from an offshore wind developer. The Offshore Renewable Energy (ORE) Catapult said eight new offshore projects with a total capacity of 5.4GW were eligible to bid in the auction but failed to secure a contract. The failure of the previous auction to attract any offshore wind bids came after the government refused to raise the price cap - known as the administrative strike price (ASP) - from the level it had set of £44/MWh, despite repeated warnings from industry that this was too low. The government's announcement of the auction results made much of the involvement of largest flfloating offshore wind project in the world to reach market.
ISSN:1356-5532