Economy

United Kingdom to conduct next clean energy auctions worth GBP557m in 2019

United Kingdom to conduct next clean energy auctions worth GBP557m in 2019”

Image: UK to conduct next renewable energy auctions in 2019.

Richard Evans, North Energy sector lead at KPMG and a member of the taskforce, said: "As the government looks to a modern industrial strategy, with energy as one of the key pillars, the Northern Energy Taskforce offers a strategy that provides a route for the North to drive forward its distinctive economic priorities and play to its strengths". The world is moving from being powered by polluting fossil fuels to clean energy.

"Following a significant period of uncertainty in the energy sector, businesses need certainty about the plans and policies that will deliver a low-carbon future".

Low-carbon innovation is at the heart of the government's approach, climate change and industry minister Claire Perry said in a written statement to parliament.

The measures include up to GBP 557 million (USD 738m/EUR 622m) of funding for future contract for difference (CfD) auctions for less established renewables such as offshore wind that was announced yesterday.

"Government is clear that clean growth is a priority for the United Kingdom, and that the low-carbon sector can help to increase the competitiveness and productivity of our economy in the decades ahead, creating high-value jobs as well as taking effective action on climate change".

"We've shown beyond doubt that renewable energy projects are an effective way to cut our emissions, while creating thousands of good jobs and attracting billions of pounds worth of investment".

"This announcement secures cheap, home-grown, clean energy for the UK".

The government in the United Kingdom has published its long-awaited and much anticipated Clean Growth Strategy, which includes a "sector deal" for offshore wind that could see more than 10 GW of new offshore wind capacity developed.

Scottish Secretary David Mundell said: "This UK government investment is vital in realising the potential of less established renewable technologies, as well as providing Scottish jobs in the projects supported". This unbelievable cost reduction is a reminder of what innovative industry can deliver when backed by competitive auctions. "However, what's missing is clarity on how the lowest-cost technology, onshore wind, can deliver for United Kingdom consumers".



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