The impact of inflation on the offshore wind industry is being felt globally. With markets recalibrating to factor in supply chain costs, we look at how and why investment has been interrupted, and when it will begin to flow again.
The flagship renewable power auction, known as Contracts for Difference, has published the results of its Auction Round 5 (AR5), revealing that just 3.7GW of projects have been awarded funding.
In our weekly issue of Current± Price Watch – powered by Enact – we take a look at Britain’s interconnector plans, the approach of the end of the ESO’s Winter Enhanced Actions options, and passing on the drop in wholesale prices to consumers.
The UK Government has announced a £205 million budget for the fifth Contracts for Difference (CfD) funding round, which is the first auction to run annually.
The energy sector has thrown its weight behind a proposal to bring in fixed contracts for existing generators, to help provide them with long-term security and reduce consumer bills in the short-term.
Wind farms paying back through the Contracts for Difference (CfD) scheme due to high power prices could now pay back £25 to each household from this October.
The Energy and Climate Intelligence Unit (ECIU) has criticised the lack of governmental support for onshore wind, highlighting that by 2035 the shortfall in the rollout of the technology could cost each household £125.
