The Energy Security Secretary today announced a £22m increase in Government backing for renewables through the flagship Contracts for Difference scheme – taking the total budget to £227m for this auction.

The scheme, the Government’s main system for supporting low-carbon electricity generation and has already led to an increase in the proportion of the UK’s energy coming from renewables, seeing renewables fuel around 42 per cent of the UK’s electricity generation.

Energy Security Secretary Grant Shapps said: “Putin’s barbaric action against Ukraine made clear our need to do whatever it takes to bolster our energy security. Today’s funding through our flagship Contracts for Difference scheme – the lifeblood of our renewables industry for nearly a decade – will help grow our economy by making Britain the first choice for investors in renewable energy projects and secure skilled jobs for future generations.”

The new funding for the current round (AR5) will mean an increased budget for established technologies such as solar and offshore wind – from £170mto £190m, an increase in the budget for emerging technologies such as floating offshore wind – up from £35m to £37m and maintaining £10 ring-fenced budget for tidal stream projects.

This comes as National Risk Register lists the threats facing the country, including risks to energy security and climate change.

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