Game, Set Price and Can't Match

No new offshore windfarms have been approved in the UK after the latest government auction. The auction awards contracts to generate renewable electricity for 15 years. This is a long time, given inflationary pressures. Ministers had been repeatedly warned that inflation had caused costs in the offshore sector to soar by 40%. None of the big three companies operating in this area, felt they could make a bid with a reasonable expectation of profit. They 'sat on their hands' (https://www.theguardian.com/environment/2023/sep/08/biggest-clean-energy-disaster-in-years-uk-auction-secures-no-offshore-windfarms). Although some solar farm, onshore windfarm and tidal power projects will funded, it will be extremely difficult for the UK to reach its carbon zero target, without more offshore windfarms. Some existing offshore windfarm developments are actually being cut back by the companies. Offshore windfarms have the big advantage of not taking up land space.