Commenting on today’s opening of the application window for Contracts for Difference Allocation Round 8, RenewableUK CEO Tara Singh said:
'Bringing forward this auction represents an important step towards strengthening Britain’s energy security, with recent global events demonstrating yet again that the best way to reduce our exposure to fossil-fuel price shocks is by generating more of our own electricity here in the UK, at the stable prices renewables offer.
'This auction is expected to deliver a high level of competition between projects, thanks to Administrative Strike Prices remaining at the same level, which is exactly what secures the best value for billpayers. Additionally, the Secretary of State’s ability to review bids for a greater range of technologies, including onshore wind, floating wind and other deepwater offshore wind projects, will ensure that the budget is used in the most efficient way.
'We now look forward to the Government announcing the budget in the coming months 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 while significantly strengthening our energy security.'
The Government has published the Allocation Round 8 timeline here.
Source: RenewableUK
