2022 has been busy for renewable developers in Great Britain and Ireland, with both the fourth allocation round of the Contracts for Difference (CfD) scheme and the second round of the Renewable Electricity Support Scheme (RESS) concluding this summer.
We compared the latest results of the CfD and RESS schemes to better understand the differences in how Great Britain and Ireland are supporting low carbon generation.
Energy Market Design
Electricity markets will serve as the foundation for the future GB energy system. This article examines some of the market design decisions that will be considered by the Review of Electricity Market Arrangements (REMA). Market design goals At its most simple, a well-functioning market will attract enough potential “buyers” and...
Low carbon generation
Against the backdrop of record high and volatile energy prices, Ofgem set out on 8 July its view on key aspects of the GB energy system where it considers significant reform is required to deliver a resilient, low cost, low carbon energy sector. Recent developments in the energy market, such...
Energy Market Design
The Review of Electricity Market Arrangements (REMA) is intended to discuss and decide on appropriate market arrangements for 2035 in a Net Zero, low marginal cost, renewables-dominated market. It is unlikely it has the scope or capability to intervene in the market arrangements ahead of this winter. Therefore, some new interventions...
Low carbon generation
This week we look at how renewable generation is putting money back in consumers’ pockets - a trend which, based on the power price forecast from our All-Island Forward Curve report, is expected to continue until 2027. Last week the Commission for Regulation of Utilities (CRU) published their final decision...
Low carbon generation
Last week I took a trip to sunny central London to attend Cornwall Insight’s Green Generators Group (3G), which is the user group for our low carbon generation service. In what felt like a novelty after a two-year hiatus of face-to-face forums, I was joined by my colleagues Dan Starman...
Regulation and policy
BEIS published on 14 June its consultation on the revenue stream element of the proposed Regulated Asset Base (RAB) model to incentivise the deployment of new nuclear projects. BEIS is responsible for implementing this as legislated by the Nuclear Energy (Financing) Act 2022 which received Royal Assent on 31 March...
Low carbon generation
Yesterday, the government released the results of the fourth round of the Contracts for Difference (CfD) scheme, securing almost 11GW of renewable capacity across 93 projects, nearly double the 5.8GW awarded in Allocation Round 3 in 2019. The greatest capacity – at 7.0GW - has been secured from new offshore wind projects,...
Low carbon generation
Higher costs drive up auction clearing price It’s been a tumultuous couple of years since RESS 1. As the world recovers from the COVID-19 pandemic and the conflict in Ukraine continues, stresses and strains are being felt across many sectors of the economy, and infrastructure is no exception. Pent up...
