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1463730
registered interest false more like this
date less than 2022-05-17more like thismore than 2022-05-17
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential impact of the Contracts for Difference Allocation Round 4 on energy bills. more like this
tabling member constituency Rother Valley more like this
tabling member printed
Alexander Stafford more like this
uin 3792 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-05-25more like thismore than 2022-05-25
answer text <p>I refer my hon. Friend to the answer I gave my hon. Friend the Member for Hendon on 24th May 2022 to Question <a href="https://questions-statements.parliament.uk/written-questions/detail/2022-05-16/2457" target="_blank">2457</a>.</p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
remove maximum value filtermore like thismore than 2022-05-25T09:06:53.683Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4866
label Biography information for Alexander Stafford more like this
1463031
registered interest false more like this
date less than 2022-05-16more like thismore than 2022-05-16
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential effect of the upcoming Contract for Difference Auction Round 4 on energy bills. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 2457 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-05-24more like thismore than 2022-05-24
answer text <p>The Government is committed to minimising energy costs for businesses and consumers. Contracts for Difference offer value-for-money to consumers and continue to deliver low prices. For example, between the first allocation round in 2015 and the last round in 2019, the price per unit (MWh) of offshore wind fell by around 65%.</p><p> </p><p>Competitive auctions are proven to be effective in helping to keep costs down and this year’s auction has been designed to keep the allocation process highly competitive. The impact will be dependent on the outcome of the competitive auction process; it is expected that this year’s round will have a small impact on household bills.</p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-05-24T14:35:01.593Zmore like thismore than 2022-05-24T14:35:01.593Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4006
label Biography information for Dr Matthew Offord more like this
1439255
registered interest false more like this
date less than 2022-03-09more like thismore than 2022-03-09
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of further increasing investment in (a) onshore wind, (b) solar, (c) tidal and (d) other renewable energy sources such in order to further diversify energy generation in the UK; what steps he is taking to support the development of energy storage facilities; and what his planned timetable is for publishing the findings of the call for evidence on large scale, long duration energy storage. more like this
tabling member constituency Ynys Môn more like this
tabling member printed
Virginia Crosbie more like this
uin 137456 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-03-14more like thismore than 2022-03-14
answer text <p>The Contracts for Difference (CfD) scheme is the Government’s main mechanism for supporting new low-carbon electricity generation projects in Great Britain. The fourth allocation round of the CfD scheme (AR4) opened on 13 December 2021 and aims to secure more low-carbon electricity capacity than the previous three rounds combined. AR4 is open to an expanded number of renewable technologies, including offshore wind, onshore wind, solar, tidal stream and floating offshore wind. In February, the Government also announced that the next CfD allocation round will be brought forward to March 2023, and future rounds will run annually, rather than every two years, thereafter. This will support renewable electricity producers and further drive deployment of renewable power.</p><p>In 2019 BEIS launched the Storage at Scale competition, which funded demonstration facilities for two innovative energy storage facilities. In 2021, BEIS launched a further programme, The Longer Duration Energy Storage competition. In February 2022, BEIS announced funding for 24 projects under this competition to perform engineering design or feasibility studies of their technologies. The Government is reviewing the responses to the Call for Evidence on large-scale, long-duration electricity storage, alongside analysis the Department commissioned on the role of this type of storage in the electricity system. The Government will publish a response in due course.</p>
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-03-14T15:46:05.04Zmore like thismore than 2022-03-14T15:46:05.04Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4859
label Biography information for Virginia Crosbie more like this
1422003
registered interest false more like this
date less than 2022-02-10more like thismore than 2022-02-10
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has plans to implement the Contracts for Difference auction and allocation on an annual basis. more like this
tabling member constituency Ross, Skye and Lochaber more like this
tabling member printed
Ian Blackford more like this
uin 122698 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-02-21more like thismore than 2022-02-21
answer text <p>On 9 February 2022, the Secretary of State announced that Contracts for Difference allocation rounds will be held on an annual basis from March 2023, when the next round (AR5) will open to applications.<sup><sup>[1]</sup></sup></p><p> </p><p> </p><p>[1] <a href="https://questions-statements.parliament.uk/written-statements/detail/2022-02-09/hcws600" target="_blank">https://questions-statements.parliament.uk/written-statements/detail/2022-02-09/hcws600</a></p><p> </p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-02-21T16:40:24.377Zmore like thismore than 2022-02-21T16:40:24.377Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4390
label Biography information for Ian Blackford more like this
1418191
registered interest false more like this
date less than 2022-01-31more like thismore than 2022-01-31
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what the total amount of strike price top up payments made to companies under Contracts for Difference by the Low Carbon Contracts Company was in each of the last five years. more like this
tabling member constituency North West Norfolk more like this
tabling member printed
James Wild more like this
uin 114957 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-02-08more like thismore than 2022-02-08
answer text <p>The Low Carbon Contracts Company publishes information on payments to projects supported by the Contracts for Difference scheme on their Data Portal[1].</p><p>[1] <a href="https://www.lowcarboncontracts.uk/dashboards/cfd/actuals-dashboards/historical-dashboard" target="_blank">https://www.lowcarboncontracts.uk/dashboards/cfd/actuals-dashboards/historical-dashboard</a></p><p> </p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-02-08T15:25:26.317Zmore like thismore than 2022-02-08T15:25:26.317Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4787
label Biography information for James Wild more like this
1418192
registered interest false more like this
date less than 2022-01-31more like thismore than 2022-01-31
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what the total amount was of payments made by companies under Contracts for Difference to the Low Carbon Contracts Company when strike prices were below market prices in each of the last five years. more like this
tabling member constituency North West Norfolk more like this
tabling member printed
James Wild more like this
uin 114958 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-02-09more like thismore than 2022-02-09
answer text <p>The Low Carbon Contracts Company publishes information on payments made by generators under the Contracts for Difference scheme on their Data Portal[1].</p><p> </p><p>[1] <a href="https://www.lowcarboncontracts.uk/dashboards/cfd/actuals-dashboards/historical-dashboard" target="_blank">https://www.lowcarboncontracts.uk/dashboards/cfd/actuals-dashboards/historical-dashboard</a></p><p> </p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-02-09T18:16:20.42Zmore like thismore than 2022-02-09T18:16:20.42Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4787
label Biography information for James Wild more like this
1403637
registered interest false more like this
date less than 2022-01-17more like thismore than 2022-01-17
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what the estimated additional cost is to consumer bills of the financial commitments aligned with the Contracts for Difference Round 4 auction. more like this
tabling member constituency Kilmarnock and Loudoun more like this
tabling member printed
Alan Brown more like this
uin 105612 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-01-25more like thismore than 2022-01-25
answer text <p>The Government is committed to minimising energy costs for businesses and consumers. Contracts for Difference offer value-for-money to consumers and continue to deliver low prices. For example, between the first allocation round in 2015 and the most recent round in 2019, the price per unit (MWh) of offshore wind fell by around 65%.</p><p> </p><p>Competitive auctions are proven to be effective in helping to keep costs down, and this year’s auction has been designed to keep the allocation process highly competitive. The impact will be dependent on the outcome of the competitive auction process, its expectation is that this year’s round will have a relatively small impact on household bills.</p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2022-01-25T16:58:18.837Zmore like thismore than 2022-01-25T16:58:18.837Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4470
label Biography information for Alan Brown more like this
1360290
registered interest false more like this
date less than 2021-10-15more like thismore than 2021-10-15
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the potential impact of net negative generator payments on the Contracts for Difference Scheme. more like this
tabling member constituency Wansbeck more like this
tabling member printed
Ian Lavery more like this
uin 57042 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-10-25more like thismore than 2021-10-25
answer text <p>Under the Contracts for Difference (CfD) scheme, a generator is paid the difference between the ‘strike price’ – a price for electricity reflecting the cost of investing in a particular low carbon technology – and the ‘reference price’ – a cost measure of the average GB market price for electricity. Generators have to pay back the difference to the Low Carbon Contracts Company (LCCC) when market prices are higher than the strike price.</p> more like this
answering member constituency Chelsea and Fulham more like this
answering member printed Greg Hands more like this
question first answered
less than 2021-10-25T17:02:47.867Zmore like thismore than 2021-10-25T17:02:47.867Z
answering member
1526
label Biography information for Greg Hands more like this
tabling member
4139
label Biography information for Ian Lavery more like this
1349506
registered interest false more like this
date less than 2021-07-22more like thismore than 2021-07-22
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent assessment he has made of (a) the potential merits of a larger number of Power Purchase Agreements in the UK electricity market and (b) the effect of those agreements on (i) Government subsidies provided to renewable energy generators through the Contract for Difference scheme and (ii) electricity cost for consumers; and if he will make a statement. more like this
tabling member constituency Kilmarnock and Loudoun more like this
tabling member printed
Alan Brown more like this
uin 38305 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-09-10more like thismore than 2021-09-10
answer text <p>The Government recognises that achieving our 2050 net zero target will require increased deployment across a range of renewable technologies. The UK's main support mechanism is the Contracts for Difference Scheme (CfD), which has been hugely successful at bringing forward large-scale renewable generation at low costs to the consumer.</p><p> </p><p>Power Purchase Agreements (PPAs) can improve the financial viability of renewable projects built without Government support. PPAs of this nature do not add to consumer levy costs, have the potential to create additional renewable generation capacity and can reduce overall demands on the grid if meeting the needs of large energy users. All routes to deploy cost effective low carbon generation are welcome and given our highly ambitious carbon budget and net zero targets, we anticipate that PPAs will be an important part of the landscape to complement Government mechanisms such as the CfD.</p> more like this
answering member constituency Berwick-upon-Tweed more like this
answering member printed Anne-Marie Trevelyan more like this
question first answered
less than 2021-09-10T13:41:01.747Zmore like thismore than 2021-09-10T13:41:01.747Z
answering member
4531
label Biography information for Anne-Marie Trevelyan more like this
tabling member
4470
label Biography information for Alan Brown more like this
1347306
registered interest false more like this
date less than 2021-07-15more like thismore than 2021-07-15
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 remove filter
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Renewable Energy: Finance remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to ensure that the Contracts for Difference scheme provides sufficient long-term visibility to investors making financial decisions. more like this
tabling member constituency Southampton, Test more like this
tabling member printed
Dr Alan Whitehead more like this
uin 33834 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-07-20more like thismore than 2021-07-20
answer text <p>The Contracts for Difference (CfD) scheme has been successful in bringing forward renewable generation whilst also reducing the costs of technology and since its inception has become established as a route to bring forward investment at scale. As set out in my Rt. Hon. Friend the Prime Ministers’ Ten Point Plan for a Green Industrial Revolution, we have committed to holding regular CfD allocation rounds approximately every two years, and the next round will open in December 2021. The Department continues to keep the scheme under review to ensure it maintains a focus on investment certainty and stability to enable renewable deployment at scale. We recently concluded a Call for Evidence on this topic, seeking views to inform the future design and evolution of the CfD and will publish a response shortly.</p> more like this
answering member constituency Berwick-upon-Tweed more like this
answering member printed Anne-Marie Trevelyan more like this
question first answered
less than 2021-07-20T16:23:02.397Zmore like thismore than 2021-07-20T16:23:02.397Z
answering member
4531
label Biography information for Anne-Marie Trevelyan more like this
tabling member
62
label Biography information for Dr Alan Whitehead more like this