Commenting on today's Contract for Difference auction results for new renewable energy projects, Sam Hall, Director of the Conservative Environment Network, said:
"While there is positive news for onshore wind, solar, and tidal, today’s renewables auction results are disappointing due to the lack of offshore wind bids. The cap on offshore wind bids should have been increased when supply chain inflation and higher interest rates substantially pushed up costs. Even with these cost rises, offshore wind is cheaper than gas as well as substantially cleaner. The delay to these projects will leave the UK dependent on volatile international gas markets for longer.
"With other countries powering ahead on renewables with generous incentive packages, the UK is at risk of losing its head-start. Ministers should now set out policies to attract more offshore wind investment. Faster planning decisions, permanent full expensing, funding for port upgrades, and higher strike price caps that reflect market conditions would help the industry get back on track."