The UK took a major leap toward its 2030 clean energy targets, awarding subsidy contracts for a record-breaking volume of offshore wind capacity.
British authorities granted contracts expected to produce 8.4 GW of energy, enough to power roughly 12 million homes, albeit at higher strike prices — the amount guaranteed to producers per MWh — compared to last year’s auction. This could increase household electricity bills, handing fresh ammunition to opponents who argue that renewables are too expensive. While the high upfront construction costs of wind energy hit consumers in the short term, the government argues it remains cheaper than building new gas plants.