UK takes another big step forward towards 2030 clean power target

Responding to the results of the Government’s sixth renewables auction, Simon Virley CB, Vice Chair and Head of Energy and Natural Resources at KPMG UK, said:

“The results of the latest renewables auction (AR6) are another important step forwards towards achieving the Government’s 2030 Clean Power mission. The auction secured almost 10GW of new renewable capacity at prices well below the upper limit set by the Government – once again demonstrating the effectiveness of the UK’s Contract for Difference auction framework in driving competitive tension and ensuring value for money for consumers as we make the transition to a fully decarbonised power system.

"The auction secured almost 5GW of fixed bottom offshore wind, as well as the 400MW Green Volt project – the largest floating offshore wind farm in the world to reach market. But even this scale of offshore deployment is not enough to fill the huge gap left by last year’s failed auction, when no offshore wind contracts were awarded.

"With almost every country in the world seeking to scale up renewable power, the UK is in a global race to secure the supply chain and skills required to continue the progress towards a fully decarbonised power system. The Government should look to build on today’s successful auction outcome by providing a consistent long-term policy framework that enables investors and the supply chain to gear up and invest in UK jobs and supply chain facilities.”

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Claire Barratt

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About KPMG UK

KPMG LLP, a UK limited liability partnership, operates from 20 offices across the UK with approximately 18,000 partners and staff. The UK firm recorded a revenue of £2.96 billion in the year ended 30 September 2023.

KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.