The government has increased the maximum prices for electricity from new wind farms as part of efforts to reduce household bills and transition to a fossil fuel-free electricity grid by 2030. The Department for Energy Security and Net Zero announced these details before an upcoming auction for government-backed contracts. Prices for offshore wind have risen, with the maximum price set at 113 per megawatt-hour. Critics have labeled these prices as exorbitant, noting they are the highest in a decade and above last year's average electricity costs.
This year, the maximum guaranteed price for offshore wind will be 113 per megawatt-hour, up from 102 in 2024. Floating offshore wind is more expensive at 271/MWh.
The auction opens in August and will be one of the last which can deliver projects in time to meet the government's target of Clean Power by 2030.
Conservative Shadow Energy Secretary Claire Coutinho commented on the prices, stating they are the highest in a decade and significantly above the average cost of electricity last year.
The government has increased the maximum price it will pay to companies for the electricity generated by new wind farms amidst efforts to lower household bills.
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