By Paul Homewood
We looked at how the CfD system was operating during December yesterday. But we really need to take a step back and look at last year as a whole to get the full picture.
https://www.ofgem.gov.uk/energy-data-and-research/data-portal/wholesale-market-indicators
During the year, there was as we know a steady rise in prices, with a big jump in the autumn.
| CfD Generation | 21.7 TWh |
|
Av Strike Price |
£143.78/MWh |
| Av Market Price | £97.75 |
| CfD Subsidy | £996.6 million |
The CfD system generated a refund to bills of £83.1m in December,as I explained yesterday, but overall we are still £996.6m worse off.
Meanwhile generators signed up to Renewables Obligation, the system which preceded CfDs, were paid subsidies of £68.56/MWh in the year to Sep 2021. This is, of course, on top sky high revenue for sales of electricity they are now raking in.
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January 25, 2022 at 07:03AM
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