Annual auctions to accelerate low-cost renewable power 

Government Speeds Up on Renewables

The UK Government is accelerating the deployment of low-cost renewables through their flagship auction scheme ‘Contracts for Difference’ (CfD) 

On Wednesday 9th February 2022 it was announced that the auctions for funding through CfD will change from every 2 years to every year. This change is set to support renewable electricity producers and boost the UK’s renewable energy infrastructure. The new change will be commencing in March 2023!  

The Government’s Goal

The goal of the scheme is to boost investments, infrastructure, and jobs within the renewables industry. And the auction scheme is already proving to be a success as in the last round of allocation, new contracts were awarded with the potential of 6GW of renewables to be installed. The Business and Energy Secretary Kwasi Kwarteng has said “We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands”.  

Make sure to pencil March 2023 into your diaries and keep an eye out for the next upcoming CfD auctions! 

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