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ARTICLE · 22 NOVEMBER 2023

How Changes To The CfD Scheme Can Further Sustainability

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The UK Government announced an increase in the maximum price offshore wind projects can receive in the next Contracts for Difference (CfD) auction.

United KingdomGovernment, Public Sector
Tomas Karger
Tomas Karger
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The UK Government announced an increase in the maximum price offshore wind projects can receive in the next Contracts for Difference (CfD) auction.

The CfD scheme ensures projects receive a guaranteed price from the government for the electricity they produce. Following a review of submitted evidence, the government has raised the maximum strike price these projects can receive in the next CfD auction, set for next year (Allocation Round 6 - AR6) by 66% for offshore wind, and by 52% for floating offshore wind projects. These increases follow the last allocation round which did not receive any bids from eligible developers for floating offshore wind projects. The change has been met with a positive reaction from an industry that is facing challenges in its global supply chain.

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