BEIS will publish the CfD allocation round 3 results by 8am on Friday after the Delivery Body has informed successful applicants of the final strike price, target commissioning date(s) and allocated capacity. In CfD allocation round 2, offshore wind cleared at £74.75/MWh for delivery year 21/22, and £57.50/MWh for delivery year 22/23, in 2012 prices. Allocation round 3 includes remote island wind with an administrative strike price (cap) of £82/MWh in 2012 prices for both 23/24 and 24/25 delivery years, and offshore wind with strike prices of £56/MWh and £53/MWh in 2012 prices for 23/24 and 24/25 respectively. The auction is ‘pay as clear’, but with individual technology prices capped at their respective strike prices. The auction has a cap of 6GW and a budget of £65m in 2012 prices. We have previously flagged c.9GW of offshore and remote island wind as having planning permission, and expect the process to be competitive. The amount of offshore wind being bid in, and the delivery years, will be key, and if offshore wind capacity entering the auction exceeds 6GW, a clearing price below the offshore wind strike prices is possible. Pricing of both offshore and onshore wind globally has been trending down as turbine size has increased, although load factors and responsibility for transmission costs limit the ease of regional comparison. SSE has previously indicated that it has 3.1GW that could compete in the auction (2.85GW offshore, 229MW remote island wind), with build out of renewables key to its post SSE Energy Services strategy.