U.K. to auction off renewable energy contracts

07/25/2014 | Reuters

The U.K. will hold its first public auction of renewable energy contracts in October, with more than $339 million annually on offer for winning proposals. The auction is part of the U.K's effort to change the way it supports renewable energy projects by shifting to a contracts-for-difference system. Another auction, for about $85 million, is scheduled in 2015. The auctions are aimed at "ensuring that new, clean electricity generation would be built at the lowest possible cost to energy consumers," said Energy Secretary Ed Davey.

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