Renewable Energy: Finance

Department for Energy Security and Net Zero written question – answered at on 21 November 2023.

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Photo of Kenny MacAskill Kenny MacAskill Alba, East Lothian

To ask the Secretary of State for Energy Security and Net Zero, what assessment she has made of the adequacy of the contract for difference scheme.

Photo of Graham Stuart Graham Stuart Minister of State (Department for Energy Security and Net Zero)

Since 2014, the Contracts for Difference scheme has proven itself highly effective at driving deployment of large-scale renewables while rapidly reducing costs. The scheme has now contracted over 30GW of new low-carbon capacity, including 20GW of offshore wind. The Government continuously reviews the scheme to ensure it remains fit-for-purpose as our electricity system evolves and we work towards our net zero ambitions. In 2022, the Government published a three-phase evaluation of the scheme, which found that the scheme was meeting its objectives. [1]


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