UK business and energy secretary, Kwasi Kwarteng
UK to hold annual renewables auction
New schedule will start from next year as the UK seeks to bolster low-carbon power generation
The UK has announced it will start to hold renewables contract-for-difference (CfD) auctions annually from 2023 in an effort to accelerate low-carbon power development and reduce dependence on gas. “We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands,” says Kwasi Kwarteng, the UK’s business and energy secretary. “The more clean, cheap and secure power we generate at home, the less exposed we will be to expensive gas prices set by international markets.” The UK’s energy regulator, Ofgem, will increase the consumer energy price cap by 54pc from April in response to surging gas prices
Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
