Comment on changes to CfD auction

Auctions for funding for renewable energy projects through the Contracts for Difference (CfD) scheme will now be held annually

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By George Smeeton

info@eciu.net

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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.”