Nice auction, but Ed Miliband is still a long way from his 2030 targets for offshore wind | Nils Pratley

Arithmetic over capacity does not add up, with supply chains a constraining factor Renewable energy auction secures enough power for 11m UK homesIt was a "record-setting auction" and "a significant step forward in our mission for clean power for 2030", trumpeted the energy secretary, Ed Miliband, enjoying the contrast with last year's auction flop under the Tories in which precisely zero bids were received to build offshore windfarms.Miliband was claiming credit when it wasn't entirely due, of course, because this year's competition was designed well before the general election. Some version of success was guaranteed from the moment the last government said it was prepared to pay up to ?73 a megawatt hour (in 2012 prices, confusingly) for offshore wind, a mighty leap from the ?44 level that produced no takers in 2023. At the higher level of incentive, developers were bound to come out to play again. Continue reading...