As my Rt. Hon. Friend the Prime Minister announced through the 10 Point Plan, the next Contracts for Difference (CfD) allocation round will open in late 2021. This is set to be our biggest auction yet, with the aim of securing up to double the renewable electricity capacity of previous rounds.
We remain on course with this timetable and plan to publish draft auction parameters roughly five months ahead of round opening, with final parameters set just before round opening. These parameters will cover all technologies eligible to compete in this auction, including wave and tidal energy.