CfD reforms set out by Government

The Government has set out proposals for key reforms to the Contracts for Difference scheme aimed at attracting more investment bringing clean power online faster. 

The proposed measures include changing how offshore wind budgets are set and increasing the contract term beyond the current 15 years to make them more cost effective.

The Government said the plans would provide greater certainty to investors and a better deal for consumers.

Although the UK is already home to the three largest operational offshore wind farm projects in the world, the Government said it must secure even more to deliver clean power by 2030.

Energy Secretary Ed Miliband said: ”Our bold new reforms will give developers the certainty they need to build clean energy in the UK, supporting our mission to become a clean energy superpower and bring down bills for good.”