Gareth Miller’s Interview at Inspiratia Offshore Wind Conference 2019

Our CEO, Gareth Miller, was interviewed at the Inspiratia Offshore Wind Conference 2019, where he discussed his thoughts on a range of issues affecting the market today.

Talking about his expectations on the contract for difference (CfD) allocation round three, Gareth said that Cornwall Insight Benchmark Power Curve models suggest that we are looking at a range between £47-£53 a MWh, with the auction “hugely dominated” by offshore wind with somewhere between 8-10GW of offshore capacity looking to come into this auction.

On the future of the CfD auction, Gareth commented that “we could see some changes” post allocation round three. These reforms are likely to try and introduce more exposure to wholesale power prices so CfD generators will act and behave in the market like other generators.

However, Gareth explained that the government will try and manage this process sensitively and are “unlikely to make radical changes” due to the significant investment in the sector over the next ten years. GB will need to increase the amount of capacity required to meet the net zero, but any changes are likely to be “evolutionary and steady rather than sudden and revolutionary”.

GB will need to increase the amount of capacity required to meet the net zero, but any changes are likely to be evolutionary and steady rather than sudden and revolutionary.
Announcement Low carbon generation

Related thinking

Low carbon generation

Blowin’ in the Wind: Is offshore wind the answer to Ireland’s net zero future?

As Ireland works towards achieving net zero by 2050, there is a pressing need to develop additional renewable energy capacity. Offshore wind is likely to be a particularly important sector and, thanks to Ireland’s large offshore exclusive economic zone, presents a valuable opportunity for the Irish economy. Cognisant of this...

Low carbon generation

Learning curves and the many moving parts of the CfD Auctions

Learning curves are an important part of the toolbox of energy system modelling, representing the benefits of learning by doing and the economies of scale. The learning rate describes how as production doubles capacity cost reduces, so a learning rate of 15% would imply that as production doubles, costs would...

Commercial and market outlook

What to look out for in 2024

Cornwall Insight experts provide their predictions for the year ahead in this handy infographic. We have collated some predictions from across our knowledge base to provide a quick snapshot of what to look out for in the GB energy market in 2024. The key highlights include the global discussion on...

Regulation and policy

Calm after the storm although transition begins to lag | 2023 year in review

This year saw a return to relative calmness after the energy shocks of last year, while governments are playing an increasing role as the rate of new renewable generation lags. Spot pricing was subdued compared to last year, with no significant unexpected outages that caused sustained price spikes. Higher levels...

Net zero corporates and ESG

Race to net zero: Rebuilding investor confidence in the UK

In our recent insight paper “Race to net zero: Rebuilding investor confidence in the UK”, published on 30 November, we discuss how increased macroeconomic pressures and rising international competition for capital have impacted the UK’s ability to secure investment in renewables and maintain momentum towards net zero. We also investigate...

E-mobility and low carbon

Paving the way: EV Country Attractiveness Index findings

Following the previous iteration of the EVCA Index, published in September 2023, the EV market has continued to grow across Europe. From October 2022 to October 2023, the EU, Norway, and the UK have seen a combined 29% year-on-year increase in battery electric vehicle (BEV) sales. Cornwall Insight have partnered...

E-mobility and low carbon

Driving growth: EV Country Attractiveness Index findings

Since the previous iteration of the EVCA Index, published in June 2023, there have been some changes to the electric vehicle (EV) landscape. The EV market has continued to grow with battery electric vehicle (BEVs) sales increasing across Europe. Cornwall Insight have partnered with law firm Shoosmiths to create the...

Announcement

2022/23 Australian energy insights report

Analytics on key current developments in the Australian energy industry Cornwall Insight Australia has released its latest compilation of Australian energy insights, charts, and analyses. The report includes the topics of energy storage and flexibility, generation (all technologies), power prices, low carbon generation, FCAS, policy and regulation, electric vehicles, and...