Industry and climate campaigners welcome a greater government commitment to the success of the looming annual clean power auction following the disastrous outcome in the 2023 edition which failed to attract a single offshore wind bid.
This year's budget to support the next wave of renewable energy schemes has been raised to a 'record' £1.5bn, the government has announced, following a failed funding process in 2023. Energy Secretary Ed Miliband said the additional £500m for the looming renewable energy auction represented a commitment towards Labour's goal of delivering clean, cheap, low-carbon electricity to families and businesses in the wake of the energy-driven cost of living crisis.
The Energy & Climate Intelligence Unit estimated that the auction was likely to secure enough offshore wind to save £30-£40 per year on every household's energy bill in the event of a future gas crisis. But experts also cautioned that it was difficult to know how much additional capacity would be created until the conclusion of the auction process. The announcement builds on Labour's lifting of the de facto ban on onshore wind farms in England.
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