- REA welcomes move to annual CfD auctions;
- The switch has long been called for by the REA;
- Longer timetables and more technologies highlighted as the next step.
The Association for Renewable Energy and Clean Technology (REA) have warmly welcomed the Government’s move to annual CfD auctions.
The REA have long called for the switch to more frequent auctions, and say that the switch will aid the energy transition and protect the UK from the volatile fossil fuel prices which have driven the recent energy bill spike.
The cost effectiveness of renewables was highlighted, with the REA calling for a longer timetable to give industry time to plan. Adding further technologies such as wave and tidal, geothermal, ACT and bioenergy would provide a balanced generation mix with benefits felt across the country.
Frank Gordon, Director of Policy at the Association for Renewable Energy and Clean Technology (REA), said:
“The REA welcomes the move to annual CfD auctions as confirmed by BEIS today. We and others have called for more frequent auctions for a number of years, most recently in response to the energy bills crisis. More power will be needed as sectors decarbonise, and moving to renewable, domestic energy supplies is ultimately the only way to prevent us being exposed to volatile international fossil fuel prices that drive bill increases, while enabling Net Zero.”
“The fact that CfD projects have paid back several million pounds to the Treasury illustrates the cost effectiveness of new renewable power. We look forward to seeing more detail on the proposed timetable and budget for the auctions, and would like to see a timetable of at least a rolling three year dates, ideally out to 2030, to allow industry time to plan.
“The success of offshore wind needs to be replicated for other essential technologies, such as wave and tidal, geothermal, ACT and bioenergy, to ensure a balanced generation mix with benefits felt across the country.
“We now urge the Government to move at pace to introduce effective flexibility markets, support for long term energy storage, decarbonise the heat sector and introduce new measures to allow householders to reduce their energy usage in the face of rising bills.”
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Notes to editors
About the Association for Renewable Energy and Clean Technology (REA):
The Association for Renewable Energy and Clean Technology (known as the REA) is the UK’s largest trade association for renewable energy and clean technologies with around 550 members operating across heat, transport, power and the circular economy. The REA is a not-for-profit organisation representing fourteen sectors, ranging from biogas and renewable fuels to solar and electric vehicle charging. Membership ranges from major multinationals to sole traders. For more information, visit: www.r-e-a.net