Labour tries to attract clean energy contracts with record £1.5bn for auction

The new budget comes after the previous government failed to award a single new offshore wind contract in 2023

The Labour government will make record amounts of funding available to clean energy developers after it increased the value of its summer subsidy auction by 50%, to 1.5bn.

The addition, compared with figures previously announced, means the total budget is seven times the amount available at last year's auction, the government said.