The UK has increased offshore wind maximum strike prices to £73/MWh for fixed-bottom offshore wind installations for the 2024 AR6 Allocation Round.
This is a substantial increase from the £44/MWh set for the AR5 round in 2023 which was too low to attract bids with no capacity being awarded to offshore wind.
The higher price is designed to compensate for a higher cost and interest rate environment.
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| Source: S&P |
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/uk-raises-offshore-wind-ceiling-price-by-66-for-2024-auction-78470125
