Share with your friends

Blown away, CfD Round 3 delivers record low price for offshore wind

CfD Round 3 results

UK Government announces record low prices for offshore wind with the results of the CfD Round 3 auction.

Simon Virley - Partner and Head of Power and Utilities - KPMG UK

Vice Chair and Head of Energy and Natural Resources

KPMG in the UK


Also on

Contract for Difference subsidiary auction - wind turbine

Key points

  • The UK’s Third Contracts for Difference (CfD) auction has cleared at the record low price of £39.650/MWh for Delivery Year 2023/24 and £41.611/MWh in 2024/25 (2012 real).
  • Six offshore wind, four remote islands wind and two Advanced Conversion Technology projects secured contracts.
  • Government has secured 5.8GW of new capacity, without spending a penny of the £65m budget.
  • This increases the challenge faced by other low carbon technologies to match the cost reductions achieved by offshore wind.
  • The results open up the possibility for offshore wind to play a greater role in delivering Net Zero by 2050.

Download our report for further insight on the outcomes of the subsidiary auction.

© 2021 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organisation please visit

Connect with us


Want to do business with KPMG?


loading image Request for proposal

Save, Curate and Share

Save what resonates, curate a library of information, and share content with your network of contacts.

Sign up today