The UK has dramatically boosted the maximum price for offshore wind power on offer at its next renewable energy auction as it seeks to head off the prospect of another damaging flop and keep its ambitions for wind at sea on track.

The UK will set an administrative strike price (ASP) of £73/MWh ($90/MWh) for its next tender round, scheduled for next year and known as allocation round 6 (AR6) when developers will be invited to bid for government-backed contract-for-difference (CfD) power deals.