To ask the Secretary of State for Energy Security and Net Zero, what the average levelised cost is for combined cycle gas-fired power stations, assuming current natural gas spot prices, in the last five years; and what the average levelised cost is for offshore windfarms commissioned in the same period.
Answered on
30 April 2024
The Department publishes its levelised costs of electricity for a generic plant in the Generation Costs Report, most recently in 2023 (https://www.gov.uk/government/collections/energy-generation-cost-projections). These provide forecasts for 2025 to 2040. Gas CCGT is 114 £/MWh for 2025 and offshore wind is 44 £/MWh for 2025 (2021 price base). Levelised costs use a forecast of gas prices over the lifetime of a plant based on the latest published gas price forecasts at the time of publication (https://www.gov.uk/government/publications/fossil-fuel-price-assumptions-2019).