The Anonymous Widower

UK Boosts Sixth CfD Auction Budget, Earmarks GBP 1.1 Billion For Offshore Wind

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

The UK government has decided to increase the budget for the next Allocation Round 6 (AR6) to GBP 1.5 billion, including GBP 1.1 billion for offshore wind. The funding uplift represents more than a 50 per cent increase on the budget previously set in March this year.

These are the first three paragraphs.

At the beginning of this year, the UK government revealed a budget of GBP 1 billion for this year’s Contracts for Difference (CfD) AR6 with the majority of it, GBP 800 million, earmarked for offshore wind.

However, the new budget, announced on 31 July by the UK’s Secretary of State for Energy Security and Net Zero, Ed Miliband, marks a GBP 500 million increase over the funding set by the previous Conservative government.

The scheme’s design means the central government’s budget will not be impacted, following findings from a Treasury spending audit revealed GBP 22 billion of unfunded pledges inherited from the previous government, according to the press release.

I do find it interesting, that despite blaming some dubious funding from the previous government, that more of the same will be used to develop some more wind farms.

July 31, 2024 - Posted by AnonW | Energy | Contracts for Difference Allocation Round 6, Offshore Wind Power, Wind Power