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ARTICLE · 22 NOVEMBER 2023

Tidal Energy CfD Price Rises By 29%

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In a recent press release, the UK government has announced an increase in the maximum price that projects in the next round (AR6)...

United KingdomEnergy and Natural Resources
Susan Bradley
Susan Bradley
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In a recent press release, the UK government has announced an increase in the maximum price that projects in the next round (AR6) of its flagship Contracts for Difference (CfD) renewables scheme will receive, "to further cement the UK as a world leader in clean energy".

The CfD scheme is designed to encourage investment in renewable energy projects by guaranteeing a price from the government for the electricity they generate.

In addition to increases for offshore wind, solar, and geothermal projects, the announcement reveals that the maximum bid price for tidal energy has been bumped by 29% - from £202/MWh to £261/MWh3.

This increase has been very positively received by the tidal energy sector. Renewable UK's Chief Executive Dan McGrail said:

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