Comment on changes to CfD auction

Commenting on the news that auctions for funding for renewable energy projects through the Contracts for Difference (CfD) scheme will now be held annually, Dr Simon Cran-McGreehin, Head of Analysis at the Energy and Climate Intelligence Unit (ECIU) said: “Whilst gas producers have been profiting from rocketing gas and power prices, renewables under the 'contracts for difference' scheme have been paying back and cutting bills - to the tune of £35 a year from this April.

“Doubling down on investment in homegrown renewables will provide ongoing savings and cushion households from a future gas crisis. More frequent, annual auctions under the Net Zero target will provide a steady stream of opportunity to British renewables projects supporting jobs in levelling up areas.”