Pablo Soria de Lachica – Summarizes The Results Of The First CfD Auction In The UK
MEXICO CITY, MEXICO – Collaborator of Kartoshka, Pablo Soria de Lachica is one of the first experts to voice their opinions on the results of the inaugural Contract for Difference (CfD) auctions which took place in February earlier this year. CfDs are private contracts between low carbon electricity producers and the British government’s Low Carbon Contractions Company (LCCC) (source: https://www.gov.uk/government/collections/electricity-market-reform-contracts-for-difference). An integral part of the latest Electricity Market Reform, each contract is designed to ensure a constant and certain flow of revenue to electricity generators by limiting their exposure to changing wholesale prices. Meanwhile, consumers will be protected from paying higher support costs whenever electricity prices rise. After the first CfD allocation auction round, 27 contracts worth £315 million (approximately $492 million) were offered to projects that generate 2GW of renewable energy in Great Britain (source: http://www.eversheds.com/global/en/what/articles/index.page?ArticleID=en/Energy/first-cfd-auction-results-announced-150226). Onshore wind generation…