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Research · Analysis

A U-turn in UK offshore wind.

Hjörtur Páll Hjartar · 6 Oct 2026 · 1 min read

Bigger turbines and low interest rates drove prices down until 2022. Then costs started to rise again. The 2023 auction lowered its price ceiling anyway, and not one offshore wind project bid. Norfolk Boreas (1.4 GW) and Hornsea 4 (2.4 GW) had their contracts terminated.

The ceiling has since gone back up, and so have prices.

The results of AR8, the next UK auction, are due between late November and February. The ceiling is unchanged at £113. Above or below £91?

Every UK offshore wind award, in 2024 prices (£/MWh)
FIDeR 2014 to AR7 · data as of 29 Sep 2026
The return of offshore wind support: every UK offshore award, in 2024 prices, pounds per MWh
One circle per award, sized by capacity; the line is each round's capacity-weighted average. Every award is on the auctions page, in the CfD's 2012 base.
How to cite
Hafrok, "A U-turn in UK offshore wind.", hafrok.com/research/uk-cfd-prices/, data as of 29 Sep 2026.
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