RENEWABLEUK
New parameters for next clean power auction will help to deliver cheaper power and greater energy security

Commenting on today's (July 6) publication of final statutory notices for Contracts for Difference Allocation Round 8 by the Department for Energy Security and Net Zero, RenewableUK's Executive Director of Policy and Engagement Ana Musat said:

"We welcome the clarity that the publication of these parameters provides for developers seeking to bid into this auction. The fact that the Administrative Strike Prices remain at the same level as the last auction will enable developers to bid competitively, whilst accounting for the cost pressures which the industry is facing. We're also pleased that the Government has accepted our recommendation to offer additional delivery years to some technologies, as that reflects the growing complexity of building major infrastructure projects. The Secretary of State's ability to review bids for a greater range of technologies in this auction, including onshore wind, floating wind and other deepwater offshore wind projects, will ensure that the budget is used in the most efficient way, providing the best value for billpayers.

"We secured a record-breaking amount of offshore wind capacity in the last auction which will bring over £30 billion in private investment to the UK, and we could see something even greater in this auction, with an eligible capacity which is double the amount that won a CfD in Allocation Round 7. We look forward to the Government announcing the budget later this year and hope that this will be set at a level which maximises the amount of low-cost power we can deliver for British homes and businesses, all the while significantly strengthening our energy security".