WindEurope Praises British Offshore Auction System

Wind Industry Profile of

Offshore wind has delivered extremely competitive prices again in the UK in the world’s largest ever wind energy auction.

Offshore wind won 5.5 GW of the 6 GW of new renewable energy capacity awarded. The average winning price for offshore wind was £40.63/MWh (€46.16/MWh) including grid connection, the lowest prices yet for offshore wind in the UK. The winning bids include 3.6 GW of wind farms at Dogger Bank (by Equinor and SSE) and Innogy’s 1.4 GW Sofia wind farm. Prices for offshore wind in the last UK auction round in 2017 were £57.50/MWh. In 2015 they were £117.14/MWh. The auction is based on a 2-sided Contract for Difference (CfD) model where the state guarantees wind farms a strike price for their electricity for 15 years. If the... ... More: Official Press Release WindEurope

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WindEurope, UK, auction, CfD, offshore, price, costs, supply chain, jobs, Europe, praise