Friday, September 20, 2019
The Carbon Trust welcomes the announcement of the Contracts for Difference (CfD) Round 3 strike prices, demonstrating the massive cost reductions that have been achieved in UK offshore wind over the last decade. The strike prices of £39.65/MWh and £41.61 (2023/24 and 2024/25 delivery years) have shown the rapid cost reduction journey that has continued from CfD Round 2. Offshore wind is now lower than the Government Reference Prices, and very likely to be close to future wholesale electricity prices. Offshore wind will be supporting the UK achieving its renewable energy targets with these projects powering 7 million homes with cheap clean energy.