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United Kingdom

CfD award date set

UK: Developers bidding for a Contract for Difference (CfD) subsidy scheme will find out if they are successful on 18 March 2015.

The National Grid is the delivery body for the CfD subsidy scheme
The National Grid is the delivery body for the CfD subsidy scheme

The Low Carbon Contracts Company, set up by the UK government to manage the CfDs, released an updated version of its implementation plan.

It lays out the timetable for the execution of the new subsidy scheme and says 18 March is the "earliest date by which successful applications can be notified of their award".

Developers were required to apply for the auction by the end of October 2013. In February, the delivery body, the National Grid, will invite sealed bids by all eligible project developers.

The winners will then be announced in March, with first payments under the new contracts expected to take place by the end of April 2015.

Under the CfD scheme, the government pays power producers the difference between the reference price and the guaranteed strike price (the cost of producing the electricity).

For wind projects, the guaranteed strike prices will be £95/MWh (€119/MWh) produced onshore and offshore sites will receive £155/MWh. The prices will progressively decrease to £90/MWh and £140/MWh respectively by 2018/19.

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