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".

Like this


12 October 2017
Profund Advisors LLC Cuts Stake in Genworth Financial Inc (GNW)
If we want to get a sense of GNW's future performance, we have to look at the speed and size of these price movements. Out of 8 Wall Street analysts rating Genworth Financial, 1 give it "Buy", 1 "Sell" rating, while 6 recommend "Hold".

12 October 2017
Shahid Kapoor gets mocked for his shirtless look in 'Padmavati'
Padmavati is directed by Sanjay Leela Bhansali and is ready to hit the screens on December 1. Deepika who plays Rani Padmini in the film has broken the history of Indian Cinema also.

12 October 2017
Arsene Wenger speaks out against Christmas Eve fixture
Leicester Tigers can not move their game because the match with Saracens is being broadcast live on BT Sport. "Multiple TV KOs at same time".

12 October 2017
PSG Chairman Subject of Criminal Investigation Over World Cup Bribery Claims
Swiss prosecutors said Valcke was questioned on Thursday and properties were searched in France, Greece, Italy and Spain.

12 October 2017
Delhi: Chief Minister Arvind Kejriwal's vehicle stolen near Secretariat
He added, "The investigation has just started and we will be able to get more details in the further course of time". Kejriwal's blue WagonR became synonymous with his "common man" image.

12 October 2017
Analyst Scores Summary: Baxter International Inc. (BAX), Express, Inc. (EXPR)
The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. Companies with higher future earnings are usually expected to issue higher dividends or have appreciating stock in the future.

12 October 2017
Don't endorse the Indian viewpoint on CPEC: Pak to US
The country has played and will continue to play the most significant role in bringing peace and stability in the region. This was seen in Islamabad as a direct endorsement of India's position on the project, which passes through PoK.

12 October 2017
16-year-old opens fire on police; standoff ongoing
As this was happening, police say the 16-year-old grandson came from a back bedroom and began firing at officers. Martin Lane and Walker Avenue are closed, and a few homes in proximity have been evacuated, the report said.

12 October 2017
$1.69 EPS Expected for United Technologies Corporation (UTX)
After $0.72 actual EPS reported by SYSCO Corporation for the previous quarter, Wall Street now forecasts 1.39% EPS growth. The stock of United Technologies Corporation (NYSE:UTX) earned "Hold" rating by Deutsche Bank on Wednesday, July 22.

12 October 2017
Phil Spencer: Xbox One X is not for everybody
Their number one form of entertainment, and we want to give them the very best experience". "But I think Sony's view is different".