New dashboard published using 2024 baseline prices

Today we are delighted to publish a new dashboard that converts all previous auction results into the new 2024 baseline price which is what will be used for Allocation Round 7.

We are doing this to add transparency for the public and industry stakeholders so they can compare like for like in the new baseline price.

The Contracts for Difference (CfD) scheme has used a 2012 baseline since its inception for Budgets, Strike Prices and Reference Prices.

This approach has enabled easier comparison of the respective costs of low-carbon technologies across allocation rounds, demonstrating how the CfD has contributed to significant cost reductions over time.

However, the disadvantage of this approach, is that it risks causing misunderstanding of true costs for those who are unfamiliar with the scheme’s design.

This risk increases with time, particularly after a period of high inflation.

Department for Energy Security and Net Zero decided as part of the changes being introduced for Allocation Round 7 to update the baseline to 2024 prices, the latest full-year price base.

This change means that Administrative Strike Prices, Reference Prices and Budgets for AR7 will be published in 2024 prices.

Explore the 2024 baseline dashboard to view all previous auction results converted into 2024 prices.