Posted on: 30/08/2016
The UK Government’s next Contracts for Difference (CfD) auction will be delayed until early 2017, according to a report in the Financial Times newspaper.
Amber Rudd had said that the auction would take place towards the end of this year while she was still Energy Secretary.
The FT’s unnamed source blamed the merger of the Department of Energy & Climate Change (DECC) and the Department of Business, Innovation & Skills (BIS) for the delay.
The source said that the delay did not mark a change in policy for Prime Minister Theresa May’s new government.
£730m up for grabs
A spokesman for the new Department of Business, Energy & Industrial Strategy (BEIS), which was created through the merger of BIS and DECC, said: “We are building a secure, affordable, clean energy system, with long-term security for investors including £730m of funding for clean energy projects this parliament.”
March’s Budget revealed that £730m had been set aside for the three CfD auctions scheduled for the current parliament.
So-called “less-established” technologies – such as offshore wind and tidal – will be allowed to compete for a share of the first auction’s £290m pot.
> Read the Financial Times' article