The first Contract for Difference auction (assuming one is required) will be held very soon (news here). For those of you new to renewables or too scared to ask what on earth your colleagues have been talking about for the last few years, Contracts for Difference are the new support mechanism for renewable electricity generation. You can find out all about them here.
National Grid announced on Tuesday that if competitive allocation is required an Auction Notice will be published on 28th January. The sealed bid window would be 29th January to 4th February 2015. For those of you involved in the current CfD allocation round, now might be a good time to review the auction process and guidance and seek internal approvals for your bid strategy.
If you’re super organised and already looking a little further ahead, you might be considering what happens next, whether you win a CfD or not. That might include making preparations to sign and complete the CfD Agreement and comply with the initial administrative requirements. Or it might include another look at RO support while preparing for the 2015 allocation round.
Next week’s Scottish Renewables Offshore Wind conference in Aberdeen has a session on Wednesday 28th January entitled “Contracts for Difference: Whats next?” See here. I’ll be speaking at the session covering themes such as: lessons learned from the allocation process so far; implications of the allocation round budget; a quick reminder on the auction; and some thoughts on what happens next for both successful and unsuccessful bidders.
Sharing the platform will be representatives from DECC, National Grid and Low Carbon Contracts Company all chaired by Mainstream Renewable Power. A great line-up for some of those last minute clarifications.
Hope to see you there.
The post The Competition is Nearly Upon Us appeared first on Brodies LLP Legal Resource Area.
