From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
https://www.lowcarboncontracts.uk/resources/scheme-dashboards/cfd-historical-data-dashboard
Despite high gas prices since the Iran conflict began in March, substantial subsidies are still being paid to renewables under the Contracts for Difference scheme.
In Q2, they amounted to £492 million, which included £373 million to out of control offshore wind farms.
Market prices rose from £74/MWh in Q4 to £90/MWh in Q2. However the average CfD strike price was £156/MWh.
Note that the recently awarded AR7 contracts for offshore are currently priced at £97.05/MWh, so will still require subsidies when operational in five years or so time, based on existing market prices.
