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UK sets stage for CfD2

BEIS publishes allocation framework and other documentation

UK sets stage for CfD2 image

The UK government has set the stage for the second Contract for Difference auction kicking off on 3 April.

BEIS (pictured) published a series of documents to pave the way for CfD2, which remains pegged at an overall budget of £290m for projects delivering in 2021-22 and 2022-23.

Paperwork published on Monday includes the allocation framework, standard terms and conditions and series of statutory notices.

CfDs will be allocated to the cheapest projects first, regardless of the delivery year. 

Load factors for offshore wind have been set at 47.7%, while wave and tidal are 30.8% and 30%.

The strike price for offshore wind is £105/MWh in the first delivery period and £100 in the second. Wave is £310/300 and tidal is £300/295.

Geothermal has been included following a period of industry consulation at a strike price of £140 for both years.

Image: BEIS

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