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1201434

	registered interest
	date	08/06/2020
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of annual contract for difference auctions; and if he will make a statement.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	56044
	answer	answer is ministerial correction date of answer 16/06/2020 answer text <p>The Government keeps all aspects of the Contracts for Difference scheme under review on an ongoing basis. In 2018, the Government announced its intention to run auctions under the scheme every two years. The last auction took place in 2019, and the next is scheduled to take place in 2021. The Government recently consulted on a range of potential changes in connection with the 2021 auction and will respond to this consultation in due course.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 16/06/2020 14:23:09 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4470 label Biography information for Alan Brown

1201435

	registered interest
	date	08/06/2020
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of removing the capacity cap from contract for difference auctions; and if he will make a statement.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	56045
	answer	answer is ministerial correction date of answer 16/06/2020 answer text <p>Capacity caps can drive competitive auctions and deliver value for money for consumers. In the absence of a capacity cap or similar constraint, competitors in Contract for Difference auctions would have no incentive to bid below the wholesale price of electricity. A capacity cap was first deployed in the third Contract for Difference auction in 2019, which secured nearly twice the capacity of the previous auction with a 30% reduction in clearing prices. We continue to keep all aspects of the Contracts for Difference Scheme under review and will publish auction parameters in due course.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 16/06/2020 14:27:29 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4470 label Biography information for Alan Brown