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<p>The Government is committed to exploring the potential of marine technologies to contribute to our Net Zero ambitions. The Department designs Contract for Difference (CfD) auctions to maximise low-carbon electricity deployment at low cost. Contracts are awarded under the CfD scheme following a competitive process. Each year the Department considers market conditions, project pipeline, and project costs in setting CfD auction parameters. Full auction parameters for CfD Allocation Round 5, including for tidal stream and wave, will be published in the Budget Notice in March 2023.</p> |