On Thursday 16 November, DESNZ announced that the maximum strike price has been increased by 66% for offshore wind projects, from £44/MWh to £73/MWh, and by 52% for floating offshore wind projects, from £116/MWh to £176/MWh ahead of Allocation Round 6 (AR6) of the Contracts for Difference (CfD) scheme next year.
On Thursday 26 October, the Energy Bill received Royal Assent and is now the Energy Act 2023. In a release on the same day, the government said that the Energy Act will transform the UK’s energy system by strengthening energy security, supporting the delivery of net zero and ensuring household bills are affordable in the long-term.
On Friday 8 September, DESNZ published the results of Allocation Round 5 (AR5) of the Contracts for Difference (CfD) scheme, which commenced on 30 March 2023.
In a joint release issued on Thursday 24 August, RenewableUK, Solar Energy UK, and Scottish Renewables announced the publication of a Cornwall Insight (CI) report that has found that a different approach in Ofgem’s aims to reform electricity markets could be achieved without risking investment in renewable energy.
On Tuesday 4 July, RenewableUK, Energy UK and Scottish Renewables published a joint letter to the Secretary of State for Energy Security and Net Zero, Grant Shapps, urging the government to make urgent changes to the Contracts for Difference (CfD) scheme.
On Wednesday 28 June, the REA (Association for Renewable Energy and Clean Technology) published its Review of Electricity Market Arrangements (REMA) report, Enabling a secure, flexible, and decarbonised electricity market fit for the future.