The UK Government has finally published its 'strike prices' for
low-carbon electricity, with a strike price of £140 per MWh
announced for offshore wind.
The strike prices provide a guaranteed price per unit of
electricity generated and are set above the current value of
energy, as a form of long-term subsidy to encourage firms to
This has been done ahead of schedule, the Government said, "to
provide further certainty to industry and investors".
The UK needs to attract major investment in the electricity
sector in the coming decades to replace ageing infrastructure with
an energy mix that meets its carbon targets and "keeps the lights
It is predicted that the strike prices will meet the
Government's objectives on renewable energy, decarbonisation,
security of supply and minimising cost to consumers, with the
expectation of £40 billion of additional investments in renewable
electricity generation projects by 2020.