According to recently-published data from the Department of Energy Security & Net Zero (DESNZ), wind power produced a “record high” share of the UK’s energy between October and December 2022 at 24.6%.
Overall, renewables generated 134TWh in 2022 (a 10% increase from 2021) with wind generation contributing 80.2TWh.
Added capacity since 2018 for leading technologies
Last week alone, increased wind generation coincided with reduced gas consumption in the UK and saw day ahead market prices reach a low of £12/MWh on 25 March.
Regarded as one of the cheapest energy generating technologies, the Government’s latest Contracts for Difference budget allocated £170 million for established technologies which included offshore wind.
Further governmental support for wind power was shown in the UK Government’s ‘Green Day’ announcement last week which announced a £160 million investment into emerging offshore wind projects alongside a pledge to streamline the planning process for the technology.
Commenting on the ‘Green Day’ announcement, Rohan Malik, EY UK&I’s government and infrastructure leader said: “Mobilising private capital [for green infrastructure] requires a clear, investible proposition, so the Government’s commitments to offshore wind funding, nuclear energy and a faster planning process should help here by offering much-needed clarity over UK infrastructure priorities.”
“Investors now have an indication of the sort of green projects that will be of national importance and could avoid significant setbacks. They can also feel confident that incoming planning changes will accelerate project delivery.”