UK Moves to Ease Offshore Wind Rules to Boost Renewables Rollout

(Bloomberg) -- The UK government unveiled reforms to speed up the rollout of renewable energy projects such as offshore wind as it targets a clean power system by 2030.

The planned changes center around so-called contracts for difference that guarantee fixed prices for power producers and which have been key in driving investment in renewables. The key proposals include relaxing of planning rules for offshore wind, changing how budgets are set and extending contract terms to improve cost effectiveness.  

The government hopes reforms like this will help the country achieve its climate goals and bring down bills for consumers. The Clean Power 2030 Action Plan sets a target of 43 to 50 gigawatts of offshore wind capacity by the end of the decade, but currently about 30 gigawatts is operational or has been committed.

“Electricity generated by renewables will be the backbone of the clean power system by 2030,” the Department for Energy Security and Net Zero said in a statement. “The contracts for difference scheme is vital to deploying enough renewables that will deliver the capacity targets.”

A consultation on the proposals is open until next month, with a government response expected later this year.

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