The government has today launched a consultation on potential changes to its Contracts for Difference (CfD) scheme.

The scheme is designed to provide long-term revenue stabilisation to renewable energy generators.

Consultation proposals include greater scrutiny of CfD applications and extension of the Supply Chain Plan process to cover emerging technologies, including floating offshore wind.

The potential changes aim to ensure generators commit to a range of actions to increase competitiveness of supply chains, driving down the cost of energy generation.

Energy Minister Greg Hands said: “The CfD scheme has helped the UK become a world leader in renewable energy, drive down costs and reduce our exposure to volatile global fossil fuel prices.”

Two months ago, the government opened its fourth CfD round.

A few weeks later, it was revealed that the scheme would return for the first time ever money, an estimated £39.2 million to energy suppliers.

Article source: https://www.energylivenews.com/2022/02/04/government-consults-on-changes-to-the-cfd-scheme/