Commenting on the outcome of the second Contracts for Difference allocation round announced today, which produced a strike price for some offshore wind projects of £57.50/MWh Open Energi’s Commercial Manager, Sebastian Blake, said:

“The dramatic fall in offshore wind costs announced today is fantastic news for the UK economy and the decarbonisation of our energy system. Hinkley Point C is looking pretty darn expensive, but assuming nuclear and wind continue to be the focus of our decarbonisation efforts, these will drive a much greater requirement for flexibility on the network. Storing energy and making demand more responsive are the most low carbon means of achieving this. There is a huge amount of untapped flexibility in the electricity consuming devices all around us. Just by being smarter about how and when we consume electricity we can unlock some 6GW of demand flexibility. New technologies mean we can optimise our demand and deliver this opportunity without impacting how we work and live.”