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Electricity Pylon

DESNZ consults on proposed CfD Sustainable Industry Reward from AR7

On Thursday 16 November, DESNZ published a consultation on its proposal to introduce a Contracts for Difference (CfD) Sustainable Industry Reward (SIR) from Allocation Round 7 (AR7) onwards. It noted that following feedback to its April 2023 call for evidence on the potential introduction of non-price factors into the CfD auction, it has decided to put forward more refined ideas for consultation and that going forward non-price factors will be referred to as the CfD SIR.

Renewable Energy

Offshore wind strike price to rise 66% to £73/MWh for AR6

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.