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Strike prices for contracts for difference revealed

Date: Fri, 28 Jun 2013 | Author: Paul Sanderson

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DECC has announced the draft strike prices for its contracts for difference (CfD) scheme.

For energy from waste with CHP, the draft strike price has been published at £90 per MWh for each year from 2014/15 to 2018/19.

Anaerobic digestion has a draft strike price of £145 for the first three years of the scheme falling to £140 in 2017/18 and £135 in 2018/19.

Advanced conversion technologies have a draft strike price set at £155 for 2014/15 and 2015/16 falling to £150 by 2016/17, £140 in 2017/18 and £135 in 2018/19.

Biomass conversion has its price set at £105 for each year of the scheme, while the draft CfD strike price for dedicated biomass with CHP is £120 for each year.

Landfill gas has a draft strike price of £65 for each year.

The levy control framework has also set upper limits on the amount of spend under the scheme. The limit in 2014/15 will be £3.3 billion, £4.3 billion in 2015/16, £4.9 billion in 2016/17, £5.6 billion in 2017/18, £6.45 billion in 2018/19, £7 billion in 2019/20 and £7.6 billion in 2020/21.

Energy Secretary Ed Davey said: “No other sector is equal in scale to the British power market, in terms of the opportunity that it offers investors, and the scale of the infrastructure challenge.

“Our reforms will renew our electricity supply, attracting up to £110 billion investment in a mix of clean, secure power and demand reduction, and will support up to 250,000 jobs up and down the supply-chain.

“The strike prices for renewable technologies aim to make the UK market one of the most attractive for developers of wind, wave, tidal, solar and other renewables technologies, while minimising the costs to consumers.

“This will help boost home-grown sources of clean, secure energy, and enable us to decarbonise the power sector, with renewables contributing more than 30 per cent to our mix by the end of this decade.” 

Category: Energy
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