Renewable Energy: Finance

(asked on 9th November 2023) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, if she will make an assessment of the potential merits of a 50% increase in Administrative Strike Prices; and whether an increase in those Prices applies to all renewable technologies in Allocation Round 6.

Answered by
Graham Stuart Portrait
Graham Stuart
Minister of State (Department for Energy Security and Net Zero)
This question was answered on 17th November 2023

The Government reviews auction parameters, including Administrative Strike Prices, ahead of every Contracts for Difference allocation round. Considering recent price volatility and that no offshore wind technologies were successful in Allocation Round 5, the Government has conducted a thorough review of its cost assumptions ahead of Allocation Round 6. The Government will set parameters that reflect the Contracts for Difference scheme’s objective to encourage low-carbon generation whilst considering net zero commitments, energy security and the likely cost to consumers. Core parameters for Allocation Round 6 will be published in November 2023.

Reticulating Splines