Search results for: Contracts for Difference

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  • 27 June 2014
    Authorities

    The Rt Hon Margaret Hodge MP, Chair of the Committee of Public Accounts released a statement regarding the Contracts for Difference (CfDs) under the ID-ER scheme. Hodge’s statement follows National Audit Office analysis which highlighted the costs and benefits of DECC’s final investment decision enabling for renewables (FID-ER) process. “The UK faces a big challenge to […]

  • 23 July 2014
    Authorities, Business & Finance

    The European Commission has concluded that a UK scheme called “Contracts for Difference” that promotes the generation of electricity from renewable sources is in line with EU state aid rules. In separate investigations, the Commission has also found that public support worth GBP 9.7 billion (around € 12.3 billion) to five offshore wind farms is […]

  • 29 May 2019
    Contracts & Tenders

    The UK Department for Business, Energy & Industrial Strategy (BEIS) is opening the third Contracts for Difference (CfD) allocation round today, 29 May. The third CfD round has attracted offshore wind bids with a combined capacity of 8.4GW from major developers such as SSE, Equinor, Scottish Power, innogy, and Red Rock Power Ltd. A total of […]

  • 11 September 2017
    Authorities, Wind Farm Update

    The UK government has awarded three offshore wind projects with Contracts for Difference (CfD) in the second round of auctions with strike prices going as low as GBP 57.50/MWh for projects scheduled for commissioning in 2022/23.

  • 27 June 2014
    Authorities, Business & Finance

    UK’s National Audit Office (NAO) issued a report Early Contracts for Renewable Electricity today. The NAO said that it is not convinced that the Government sufficiently protected consumers’ interests by awarding without competition £16.6 billion worth of early contracts to eight renewable generation projects at risk of investment delay. This decision may provide higher returns to contractors than […]

  • 14 February 2017
    Authorities, Business & Finance

    The UK government has set a cap of 1.5GW for phased offshore wind projects in the allocation of Contracts for Difference (CfDs), starting from the allocation round due to begin on 3 April.

  • 3 September 2014
    Authorities, Business & Finance

    The UK Department of Energy and Climate Change (DECC) has determined the dates for the allocation of Contracts for Difference for clean energy. The first round starts on October 14 and ends on March 31 2015. Applications for this round can be submitted until October 27. “The Delivery Years 2014/15 to 2018/19 apply to contracts […]

  • 17 September 2017
    Contracts & Tenders

    Three Offshore Wind Projects Secure Contracts for Difference as Strike Prices Go Down The UK government has awarded three offshore wind projects with Contracts for Difference (CfD) in the second round of auctions with strike prices going as low as GBP 57.50/MWh for projects scheduled for commissioning in 2022/23. North Sea Wind Power Hub Consortium […]

  • 18 March 2015
    Authorities, Business & Finance

    The Government is moving to the first phase of commercial negotiations on a Contract for Difference with the developer of a proposed tidal lagoon at Swansea Bay. Tidal Lagoon Power will be offered the chance to discuss subsidies for the project. The proposed six-mile horseshoe shaped sea wall scheme in Swansea Bay could generate around 500GWh […]

  • 11 October 2017

    The next UK Contracts for Difference (CfD) auction is planned for spring 2019, the UK Government informed today, along with the announcement that up to GBP 557 million will be made available for renewable energy projects as part of the Clean Growth Strategy. 

  • 13 May 2014
    Authorities, Business & Finance

    The UK Department of Energy and Climate Change (DECC) has unveiled proposals to maintain the growing momentum behind renewable electricity investment in the UK, while continuing to deliver value for money for consumers. Since 2010 the UK’s renewable electricity capacity has doubled; in the same period, over £34 billion of private sector investment has been announced, […]

  • 14 March 2017
    Authorities

    The UK Government is set to open the second Contracts for Difference (CfD) Allocation Round on 3 April, when it will make a total of GBP 290 million available for renewable energy projects, including offshore wind.

  • 14 August 2019

    The UK Department for Business, Energy & Industrial Strategy (BEIS) is facing a legal dispute regarding the current Contracts for Difference (CfD) scheme. According to BEIS, the National Grid has contacted qualifying applicants to inform them of the legal challenge and has extended the bidding window which will now close on 29 August. “Our Contracts for Difference […]

  • 8 August 2013
    Authorities, Business & Finance

    A detailed draft of the contract that Government will offer investors in low-carbon energy generation was published yesterday, providing further certainty to prospective developers and investors. Government is reforming the electricity market through the Energy Bill in order to keep the lights on, decarbonise the economy and minimise costs to consumers. A new support mechanism […]

  • 9 November 2016
    Authorities, Business & Finance

    The UK Government set out further details for the next Contracts for Difference (CfD) auction today, which will allow for companies to compete for the first GBP 290 million worth of contracts for renewable electricity projects starting to generate from 2021/22 or 2022/23, including offshore wind. In the March 2016 Budget, the Government announced GBP […]

  • 25 December 2014
    Business & Finance

    Plans are still underway to build the 68-turbine offshore East Anglian windfarm, Galloper – estimated to be worth £20million and 850 jobs to the local economy. RWE Innogy said it hoped to make an announcement in the spring on the future of the 340MW windfarm, despite announcing two months ago it would not continue with […]

  • 5 July 2016
    Authorities

    The UK Department of Energy and Climate Change (DECC) has proposed amending the Contracts for Difference (CfD) Allocation Regulations set in 2014 to extend the delivery years for projects to 31 March 2026. Under the current regulations, allocation rounds and their associated budgets can only be made available for projects commissioning by 31 March 2020. By amending the […]

  • 12 September 2017
    Authorities

    Scotland’s Moray Council has welcomed the awarding of the Contract for Difference to the 950MW Moray Offshore Windfarm (East) project, adding that Buckie harbour is ideally placed to support the construction of the project.

  • 19 December 2014
    Business & Finance, Wind Farm Update

    DONG Energy has decided to construct the offshore wind farm Burbo Bank Extension located 8 km off the United Kingdom coast in Liverpool Bay. Burbo Bank Extension will have a total capacity of 258MW and is expected to be commissioned in 2017. Burbo Bank Extension is the first of three projects for which DONG Energy was […]

  • 26 February 2015
    Authorities

    Following today’s news about the award of Contracts for Difference (CfDs) by the UK Government and release of the Cost Reduction Monitoring Framework (CRMF) report, The Crown Estate commented on these two big news for the offshore wind industry in the UK. Huub den Rooijen, our Head of Offshore Wind, said: “With over 4GW in operation, […]

  • 7 September 2016
    Authorities, Business & Finance

    The UK Department for Business, Energy & Industrial Strategy (BEIS) yesterday informed it intends to make the proposed amendment to the Contracts for Difference (CfD) Allocation Regulations set in 2014 to extend the delivery years for projects to 31 March 2026. Under the current regulations, allocation rounds and their associated budgets can only be made available for projects commissioning by 31 […]

  • 23 January 2015
    Authorities, Business & Finance

    Views are being sought from stakeholders on the approach the government would take if it decides to enter into Contract for Difference (CFD) negotiations for the Swansea Bay Tidal Lagoon project in South Wales. This is part of the UK government’s drive for transparency and engagement with stakeholders in developing new arrangements for applying for […]

  • 28 January 2015
    Authorities, Business & Finance

    The auctions, which will start on 29 January, will see only the most competitive projects receive contracts – helping to drive down the cost of renewables support. Projects are set to compete for £325 million in support from new Contracts for Difference (CFD) – an increase of £25 million from the budget published in October. […]

  • 21 October 2015

    The East of England’s unique all-energy coast is key to the East Anglian powerhouse alongside new technology and science, the Great Yarmouth MP Brandon Lewis told energy leaders at the East of England Energy Group (EEEGR) annual general meeting. “The opportunities are here – in decommissioning in the Southern North Sea offshore wind and nuclear. There is […]

  • 12 October 2017
    Business & Finance, Wind Farm Update

    The 402MW Dudgeon offshore wind farm entered full operation in October and has started receiving difference payments on generated electricity. 

  • 27 June 2014
    Authorities, Business & Finance

    Reacting to the publication of the National Audit Office report “Early Contacts for Renewable Electricity”, RenewableUK’s Deputy Chief Executive Maf Smith said: “The NAO acknowledges that the awarding of Contracts for Difference under the FID-ER scheme created more certainty. Increased certainty brings costs down and helps establish an offshore wind supply chain in the UK. […]