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UK’s Biggest-Ever Renewables Auction Is Also the Cheapest

  • Britain awards fixed-price contracts to Orsted, Scottish Power
  • Growth of offshore wind underpins Britain’s net-zero plans
Offshore Wind Farm
Photographer: Bloomberg Creative Photos/Bloomberg Creative Collection
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The biggest-ever UK renewables auction has awarded contracts to offshore wind at a record-low price, helping reduce the country’s dependence on volatile fossil fuel prices and easing future bills for homes and businesses. 

The contract price for wind farms was 5.8% lower than the previous auction, according to a statement from the Department for Business, Energy and Industrial Strategy. Orsted A/S, Iberdrola SA’s Scottish Power unit, Vattenfall AB and a project including AB Ignitis Grupe,  EDP Renovaveis SA and Engie SA were among the winners.