Commenting on the results of the Contracts for Difference (CfD) Allocation Round 7 (AR7) for offshore and floating offshore wind published today, Trevor Hutchings, Chief Executive of the REA, said: 

“Today’s record offshore wind auction is a turning point for Britain’s energy system. Securing 8.4GW of new capacity – enough to power over 12 million homes will help cut bills and restore confidence in the market. Wind power is already saving consumers money: in 2025 it cut electricity prices by 31%, around £38 per megawatt hour. Without wind, prices would have been 46% higher. With offshore wind now around 40% cheaper than new gas power, expanding renewables is the fastest, cheapest way to stabilise prices, reduce reliance on imported gas, and take back control of Britain’s energy.”