Question 1

Will this reduce my energy bill?

RBD · Accepted Answer

Outer Dowsing Offshore Wind is an electricity generator and not a retailer or provider. The electricity generated by ODOW will be transmitted directly into the National Grid 400kv network.

Following years of development and improvement, offshore wind is now one of the cheapest forms of electricity generation in the UK. ODOW expects to sell its power through the UK Government's Contracts for Difference (CfD) scheme, a competitive arrangement that fixes the price ODOW will receive for its power. A competitive auction keeps prices low for consumers, whilst a guaranteed price provides predictability for customers and helps reduce the cost of financing for ODOW, keeping downward pressure on prices. The latest CfD auction, held in July 2022, secured the largest ever amount of home-grown, cheap renewable energy for British consumers at record low prices. The cost of electricity from offshore wind projects in this auction was just £37.35 per megawatt hour (MWh) – the lowest cost of all renewable technologies, and significantly cheaper than the prevailing cost of wholesale electricity at that time, which was trading at over £150/MWh for much of 2022 (Source RenewableUK).

Question 2

Will this reduce my energy bill?

RBD · Accepted Answer

Outer Dowsing Offshore Wind is an electricity generator and not a retailer or provider. The electricity generated by ODOW will be transmitted directly into the National Grid 400kv network.

Following years of development and improvement, offshore wind is now one of the cheapest forms of electricity generation in the UK. ODOW expects to sell its power through the UK Government's Contracts for Difference (CfD) scheme, a competitive arrangement that fixes the price ODOW will receive for its power. A competitive auction keeps prices low for consumers, whilst a guaranteed price provides predictability for customers and helps reduce the cost of financing for ODOW, keeping downward pressure on prices. The latest CfD auction, held in July 2022, secured the largest ever amount of home-grown, cheap renewable energy for British consumers at record low prices. The cost of electricity from offshore wind projects in this auction was just £37.35 per megawatt hour (MWh) – the lowest cost of all renewable technologies, and significantly cheaper than the prevailing cost of wholesale electricity at that time, which was trading at over £150/MWh for much of 2022 (Source RenewableUK).