Contracts awarded to renewable energy projects last week would save £7 billion on electricity costs under wholesale prices seen in the current crisis, according to analysis from the Energy and Climate Intelligence Unit (ECIU).
In the latest issue of our Current± Price Watch series – powered by LCP Enact – we take a low at the record low strike prices achieved in the most recent Contracts for Difference auction, even as predictions for the next two price caps continue to surge.
Almost 11GW of onshore wind, offshore wind, solar, tidal energy and other forms of renewable energy has secured contracts in what has been the biggest Contracts for Difference (CfD) ever.
Without reform of the market, the UK will miss its 2035 electricity decarbonisation target according to a new report from centre-right think tank Onward.
RenewableUK has published its new manifesto for a fully decarbonised electricity system by 2035, setting out key measures such as market and regulatory reforms needed to cut emissions.
Offshore wind farms delaying their Contracts for Difference (CfD) contracts could have made significantly higher profits since the start of this year, new data collated by Cornwall Insight has shown.
The Department for Business, Energy and Industrial Strategy (BEIS) has called on companies to act “fairly”, as Moray East Offshore Wind farm moves to delay taking up its Contracts for Difference (CfD) support.
Protecting investor momentum must be key to the government’s recently announced Review of the Electricity Market Arrangements (REMA), Cornwall Insight has said.
Improving grid connections and boosting investor confidence should be key priorities for the government, the Association for Renewable Energy and Clean Technology (REA) has said.
