Tuesday 21 January 2020

The third round of UK’s Third Contracts for Difference (CfD) auction which took place in September of 2019 has cleared at the record low price of £39.650/MWh for Delivery Year 2023/24 and £41.611/MWh in 2024/25.

The Contracts were made up of Six offshore wind, four remote islands wind and two Advanced Conversion Technology projects secured contracts.

Which means that the government has managed to secure 5.8GW of new capacity without spending any budget.

It also meant a big increase for offshore wind as this will increase overall renewable CfD capacity by 60%. This also means that 84% of the total renewable portfolio comes from offshore wind.