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<p>The Government is committed to exploring the potential of marine technologies to
contribute to our Net Zero ambitions. The Department designs Contract for Difference
(CfD) auctions to maximise low-carbon electricity deployment at low cost. Contracts
are awarded under the CfD scheme following a competitive process. Each year the Department
considers market conditions, project pipeline, and project costs in setting CfD auction
parameters. Full auction parameters for CfD Allocation Round 5, including for tidal
stream and wave, will be published in the Budget Notice in March 2023.</p>
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