The Government said the reforms aim to provide even greater certainty to investors, helping to secure the additional offshore wind that the country needs to build a power system that reduces bills, boosts energy security and cuts the UK’s climate-warming greenhouse gas emissions.
“Our bold new reforms will give developers the certainty they need to build clean energy in the UK, supporting our mission to become a clean energy superpower and bring down bills for good.”.
As the Government looks for ways to speed up the rollout of clean power projects to meet its 2030 target, it has launched a consultation on the flagship CfD scheme, including proposals to remove planning barriers.
Last year, the renewable auction round delivered a record-breaking 128 projects with a capacity to power around 11 million homes after Energy Secretary Ed Miliband increased support from £1 billion to £1.56 billion.
Stakeholders will also be able to give feedback on changing how budgets for offshore wind are set and published, enabling funding to be invested more efficiently and increasing the CfD contract term beyond the current 15 years to make renewables more cost-effective.
