Contract for difference

  • 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...

  • 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

    Two thirds of energy industry professionals think the market needs to be drastically reformed, but say locational pricing is not the answer

    A survey conducted of over one hundred leading energy market professionals from across the investment and advisory community, by Cornwall Insight, from the attendees of its Financing Net Zero forum, has shown nearly two thirds (63%) of people working in the energy industry1 believe the UK market needs to be...

  • 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...

  • Press Releases

    Windfall taxes are not the only solution to the energy crisis  

    Following the announcement from the Chancellor of the Exchequer that the UK government will be introducing a temporary, targeted energy profits levy, Dr Dan Atzori, Research Partner at Cornwall Insight said: “The energy market is in a state of transition, with geopolitical concerns threatening to undermine energy security and subsequent...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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

    Offshore Wind set to dominate the third allocation round of Contracts for Difference

    Qualification for the third allocation round (AR3) of Contracts for Differences (CfDs) low-carbon support scheme is due to commence on 29 May. The Department for Business, Energy and Industrial Strategy (BEIS) announced that participants in AR3 would be competing for an annual budget of £60mn, with successful bidders expected to...

  • Press Releases

    Cornwall Insight urges Perry to re-examine policy for renewable energies

    Gareth Miller, CEO of Cornwall Insight has today, sent Claire Perry the MP Minister of State Department of Business, Energy and Industrial Strategy, a letter calling for the government to urgently re-examine its policy for mature and established renewable technologies and reconsider its stance on supporting grid-scale onshore wind and...