UK Government: Renewables to Deliver Over 30% of Electricity Supply by 2020

Jun 27, 2013 - By James Herron and Cassie Werbe - wsj.com

LONDON--A raft of new financial guarantees unveiled Thursday will ensure the U.K. generates more than 30% of its electricity from renewable sources by 2020, the country's Department of Energy and Climate Change said in a briefing document.

Various forms of renewable energy will be offered guaranteed electricity prices, called strike prices, to encourage their development, the government said.

Electricity generated from onshore wind will have a strike price of 100 pounds ($154) per megawatt hour from 2014 to 2017, falling to GBP95/MWh from 2017 to 2019, the government said.

The strike price for offshore wind power will be GBP155/MWh between 2014 and 2016, GBP150/MWh from 2016 to 2017, GBP140/MWh from 2017 to 2018 and GBP135/MWh from 2018 to 2019, it said.

Wave and tidal power will receive GBP305/MWh and biomass will get GBP105/MWh between 2014 and 2019, the government said.

Write to James Herron at james.herron@dowjones.com