July 2023
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This conference looked at next steps for the UK Government’s Contracts for Difference (CfD) scheme.
As it took place with the CfD Allocation Round 5 aiming to deliver greater market confidence and investment incentives into low carbon energy technologies, it was a timely opportunity to assess the first annual scheme, what more can be done to overcome barriers to stimulating renewable energy deployment, and the role of CfDs into the future.
With the Government committing £205m for this year’s CfD scheme, delegates examined key issues with the scheme and whether it is fit-for-purpose as part of efforts towards decarbonising the electricity system by 2035.
Discussion also assessed lessons that can be drawn from previous allocation rounds, as well as wider support mechanisms and long-term market outlook.
We are pleased to have been able to include keynote sessions with Sulaiman Ilyas-Jarrett, Head of Policy and Strategy, Renewable Electricity Delivery, Department for Energy Security and Net Zero; Angela Patel, Head of Contracts for Difference Delivery, Department for Energy Security and Net Zero; and Neil McDermott, Chief Executive, Low Carbon Contracts Company.
Overall, sessions in the agenda included discussion on:
- market developments:
- priorities for stakeholders in the renewable energy market - implications of EMR
- impact of pot structure changes and administered strike price reductions - the role of minima
- priorities for the CfD scheme:
- maintaining relevance - ability to adapt to evolving technologies
- assessing take-up and expansion into new and emerging technologies
- allowing submission of less established technologies to future allocation rounds
- planning regulation - granting consent to new projects
- investment: securing funding needed to expand delivery of renewables generation - increasing renewable energy deployment across the UK - supporting long-term funding
- supply chain: growing resilience - addressing challenges to domestic supply chains - competition with international markets - tackling barriers around grid connection and capacity
- infrastructure: priorities for accommodating more frequent CfD auctions - increased demand for grid connection
- long-term strategy: the way forward for renewable energy policy and regulation - aligning rollout with wider energy security, energy costs and net zero ambitions - the outlook for the CfD scheme
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the CCS; DAERA, NI; Defra; DBT; Department for the Economy, NI; Department of Finance, NI; DESNZ; DLUHC; DfT; GLD; HM Treasury; HSE; MCA; NIC; Transport Scotland; The Scottish Government; and the Welsh Government - as well as parliamentary pass-holders from The House of Lords.
