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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.

Electricity Pylon

Ofgem sets out plans for local energy governance

On Wednesday 15 November, Ofgem published its decision on the future of local energy institutions and governance. Ofgem’s decision aims to reform local governance arrangements such as energy system planning, and includes the introduction of regional energy strategic planners (RESPs) to ensure there is appropriate accountability and effective coordination for strategic planning on a regional level.