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Wind farms can earn a windfall by delaying the start of contracts

June 21, 2022 - NICHOLAS EARL

OFFSHORE wind farm operators that delayed the start of their 'contracts for difference' (CfD) would have made significantly greater profits this year than other operators, revealed Cornwall Insight. Under the government's convoluted CfD arrangement, generators are currently awarded a 'strike price' for every unit of power they generate. Cornwall Insight's data revealed that strike prices for offshore wind in a 2017 auction were set at £73.71/per megawatt hour and £94.81/MWh. This compares unfavourably with the Intermittent Market Reference Price - used to determine hourly CfD payment - which has averaged £187.42/MWh since the start of 2022 up to 14 May this year.

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