CfD

  • Media Mentions

    The Energyst| Investment in renewables

    Following the release of our Insight Paper ‘Race to net zero: Rebuilding Investor confidence in the UK’ Jamie Maule was interviewed in the Energyst. He highlighted concerns about international competition potentially hampering investments in UK renewables. He said, the UK isn't a lost cause, but we need sustained, long-term policies to...

  • Press Releases

    Higher strike prices set stage for more competitive renewables auction

    Commenting on the publication by the government of the rise in Administrative Strike Prices (ASPs) for the Contract for Difference Allocation Round 6: Tim Dixon, Senior Consultant, at Cornwall Insight: “The government's decision to boost strike prices ahead of next year’s renewables auction is a significant enhancement that will be...

  • Press Releases

    Government’s offshore wind shortfall could delay net zero

    A new report forecasting the energy generation mix out to 2030, has calculated the government will miss its 50GW offshore wind capacity target, with potential consequences for net zero.   Modelling from Cornwall Insight, included in its quarterly GB Benchmark Power Curve report, forecasts offshore wind capacity will increase from...

  • Press Releases

    Government’s renewable targets at risk as auction sees no bids for offshore wind

    The government has today unveiled the results of its fifth Contracts for Difference (CfD) auction (AR5), securing 3.7GW of renewable capacity. This is a marked reduction from last year’s secured capacity of 11GW, with government renewables targets potentially at risk. The auction, which saw developers able to bid on a...

  • Media Mentions

    Renewable Energy Magazine| CFDs

    Following our Insight paper on the implications of the rising cost of capital for the fifth round of the Contracts for Difference, Research Analyst Jamie Maule spoke to Renewable Energy Magazine on concerns rising capital could act to stifle competition and deter investors from the CFD round. Renewable Energy Magazine

  • Press Releases

    Soaring cost of capital threatens to derail expansion of renewable energy projects

    The rising cost of capital faced by developers of renewable energy projects, such as onshore wind and solar PV, may slow down the number of new projects and cause some already commissioned projects to become financially unviable. Data from Cornwall Insight’s report into capital costs and their impacts on the...

  • Media Mentions

    City AM| Price of wind power

    Senior Consultant Alex Asher warned that the fifth allocation round of the Contract for Difference scheme could see the cost of wind power generation rise, as geopolitical concerns and inflation drive up capital, which could lead to higher auction prices. City AM

  • Press Releases

    Cornwall Insight’s reaction to the BEIS consultation on the Review of Electricity Market Arrangements

    Gareth Miller, Chief Executive at Cornwall Insight said: “Confirming the Review of Electricity Market Arrangements (REMA) opens the prospect of a complete overhaul of the electricity market in Great Britain, for the first time in over 20 years. The scope is very wide, and the perceived need for reform from...

  • Press Releases

    GB sees largest ever renewable energy auction at low prices and low consumer costs

    Today, the government released the results for the fourth round of the Contracts for Difference (CfD) scheme, securing a record 11GW’s of renewable capacity across 93 projects, nearly double the 5.8GW awarded in the 2019 Allocation Round 3. The greatest capacity – almost 7GW – has been secured from new...

  • Media Mentions

    City AM| Windfarms delay contracts

    Data collated by Cornwall Insight showed that offshore windfarms delaying the start of their CfD contracts with the government, could have made significantly greater profits since the start of 2022. Analyst Lee Drummee, spoke in City AM on why allowing for conscious delays from developers could be harming returns the...

  • Press Releases

    Rushing into reform of the electricity market risks significantly inflating costs

    The Review of Electricity Market Arrangements [REMA] announced by the government in its recently published Energy Security Strategy must be undertaken with a strong focus on protecting investor momentum if the government are to meet their net zero, energy security and consumer affordability objectives. REMAs remit is wide and includes...

  • Press Releases

    New funding mechanism essential to increasing nuclear capacity in the UK

    A new funding mechanism for the nuclear sector, the Regulated Asset Base (RAB) model, has the potential to increase the UK’s nuclear capacity to 24GW over the next 30 years, according to Cornwall Insight’s Benchmark Power Curve (BPC). A significant rise when compared with the 6.7GW that is likely to...

  • Media Mentions

    Smart Energy International| Applications for the government’s CFD auction

    As the applications for the government’s largest-ever Contracts for Difference auction closed, Tim Dixon, Lead Analyst, spoke to Smart Energy International on why developers were considering alternative options. A more inclusive funding round from the government has also come with high levels of competition, likely to push down bids. Newly...

  • Press Releases

    New findings show 1.1GW increase in Renewable PPAs

    Latest research from Cornwall Insight’s ‘Renewable PPA market share report’ highlights that the market for renewable PPAs is showing increased capacity despite challenges in the sector. In fact, Cornwall Insight assessed a total of 30,710MW* of renewable PPA capacity, a 1,190MW increase from our previous report, which assessed capacity as...

  • Media Mentions

    Renewable Energy Magazine | 8 GW of wind eligible for CfD AR4

    Cornwall Insight's research on the Contracts for difference (CfD) scheme featured in Renewable Energy Magazine. The research shows that eligible solar pipeline of ~3 GW, up by ~1.8 GW on the same time 12 months ago, with CfD eligible onshore wind capacity at ~5 GW, up by around 1 GW...

  • Press Releases

    48.9GW of new renewables projects currently in the scoping stages

    Renewables projects labelled as “scoping” currently represents 50% or 48.9GW of the total viable pipeline capacity*, according to the latest analysis from Cornwall Insight. Of this 48.9GW "scoping" total, 38.6GW is from offshore wind, 5.0GW from battery projects, 3.0GW from onshore wind and 1.5GW from solar PV. This includes some...

  • Press Releases

    Current market for new-build renewables doubtful in meeting net zero target

    The current market and options available for new-build renewables are inadequate to keep the UK on track to its net zero target. According to National Grid Future Energy Scenario (FES), the UK needs approximately 87-113GW (scenario dependent) of renewables capacity by 2030 and 197-231GW by 2050. That is an annual...

  • Media Mentions

    Daily Express | Scottish policy

    James Brabben Wholesale Manager at Cornwall Insight was quoted in the Daily Express discussing renewable energy in Scotland. He explained there may be issues on the energy agenda Scottish politicians would like to control, but that might not be possible because policies are made elsewhere. Discussing the Contracts for Difference...

  • Press Releases

    High wholesale prices and negative pricing events forecasted to grow

    Research from Cornwall Insight’s Benchmark Power Curve, which forecasts the power market to 2045 under different net zero scenarios, highlights volatility in the wholesale power market is set to increase. Its central case scenario predicts that the standard deviation of hourly wholesale prices could reach £41.8/MWh by 2030. In the...

  • Press Releases

    Cornwall Insight PPA Market share survey | Increased interest and competition boost market

    The Power Purchase Agreement (PPA) market for renewable assets continues to be highly competitive, according to the latest survey results from Cornwall Insight’s PPA insight service. In fact, the PPA market for renewable generation assets has seen a significant rise in the £/MWh value achieved by generators, particularly in the...

  • Media Mentions

    Engerati | Wind pipeline misses target

    Our figures showing the total offshore wind capacity would reach only 29.7GW by 2030 was featured in Engerati Assuming all prospective sites with seabed leasing are built, the current pipeline will fall well short of the 40GW by 2030 target recently reiterated by government. In fact, this would start falling...

  • Press Releases

    Current offshore wind pipeline falls short of 40GW by 2030 target

    Latest figures from Cornwall Insight’s ‘Renewables pipeline tracker report’ show that even if all current offshore wind sites with leasing are developed in the coming years, total offshore wind capacity would only reach 29.7GW by 2030. The report currently tracks 22 sites across both floating and fixed foundation technologies, with...

  • Media Mentions

    Insight Energy | 17GW potential for CfD AR4

    Our 'Renewable Pipeline Tracker service' which examined the potential capacity that could enter the Contract for Difference Allocation Round 4 was featured in Insight Energy today. Recent announcements by BEIS have confirmed the CfD AR4 auction will take place in 'late 2021' and will look to procure up to double the ~6GW seen...

  • Media Mentions

    Riviera | CfD pipeline

    Our CfD pipeline predictions featured in Riviera. Our figures show the total 17 GW eligible, almost half (7.9 GW) is offshore wind. The rest is 7.6 GW of ‘Pot 1’ established technologies and 1.4 GW of ‘Pot 2’ less established technologies. Recent announcements by BEIS have confirmed the CfD AR4...

  • Press Releases

    Up to 17GW of renewables eligible for CfD AR4

    Cornwall Insight’s Renewable Pipeline Tracker service has examined the potential capacity that could enter the Contract for Difference (CfD) Allocation Round (AR) 4, with the analysis showing there is currently 17GW* of technologies likely to be eligible to bid. This analysis is based on Cornwall Insight’s unique tiering system in...

  • Press Releases

    Over 10GW of renewables projects could be competing in the next CfD round

    The government announced the reinstatement of 'Pot 1' technologies – which includes onshore wind and solar PV - in the next Contracts for Difference (CfD) Allocation Round 4 (AR4) in 2021. Research from Cornwall Insight's Renewable Pipeline tracker highlights how competitive the AR4 auction could be, especially between 'Pot 1'...

  • Press Releases

    Cornwall Insight responds to BEIS consulting on wide-ranging changes to Contract for Difference scheme

    Commenting on Business Energy Industrial Strategy’s (BEIS) consultation on wide-ranging changes to the Contract for Difference (CfD) scheme announcement, Gareth Miller CEO of Cornwall Insight, said:  “After a six-year period where mature technologies such as onshore wind and solar have been unable to participate in the CfD scheme, this consultation by...

  • Press Releases

    Renewables pipeline swells to over 24.7GW

    Latest figures from the Renewable Energy Planning Database revealed that the total capacity of renewable energy and storage projects across England, Scotland and Wales classed as ‘awaiting construction’ or ‘under construction’ stands at 24.7GW of the total pipeline capacity. The majority of this is classed as ‘awaiting construction’. Further research...

  • Press Releases

    Cornwall Insight comments on the Contracts for Difference Allocation Round 3 results

    Responding to the Contracts for Difference (CfD) Allocation Round 3 results, James Brabben, Wholesale Manager at Cornwall Insight, said: “Record low clearing prices in CfD Allocation Round 3 indicate the continued and rapid cost reductions for offshore wind resulting from competitive auctions. “Prices below £40/MWh (in 2011-12 money) are extremely...

  • Press Releases

    A glimpse into the future of wholesale power

    Over the Easter holidays, the UK bathed in warm sunshine and as a result, the GB wholesale power market experienced a series of notable events, some that would have once been rare. High levels of embedded solar generation reduced the need for grid-connected energy production, causing the minimum daytime demand...