The draft Contract for Difference (CfD) strike prices published by government this summer offered offshore wind projects £155 ($253) per MWh from 2014/15, dropping to £135/MWh in 2018/19.
Today, however, the government confirmed its intention to offer offshore wind projects £140/MWh in 2018/19, bending to industry concerns that the assumed cost-reductions for the medium term were too severe.
The £155/MWh starting point will remain in place for offshore wind, albeit during a period when developers can still choose to benefit the Renewable Obligation Certificates scheme, which will be phased out in 2017.
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