Talking New Energy: Are wind PPAs about to become more expensive?

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In this episode, Sam Hollister speaks to Bertalan Gyenes, Power Modelling Consultant at LCP Delta, and David Edmonds, Head of Portfolio Pricing at EDF Energy, about the growing impact of wind cannibalisation on the GB power market. As renewable generation continues to increase, periods of high wind output are pushing wholesale electricity prices lower, creating new challenges for investors, developers and offtakers. Together, they explore how these market dynamics are reshaping power purchase agreements (PPAs), influencing investment decisions, and raising important questions for future market design.

We discuss:

• What wind cannibalisation is, why it is becoming more significant, and what it means for renewable project economics.
• How PPAs, Contracts for Difference (CfDs) and wholesale CfDs allocate risk between developers, suppliers and consumers.
• Why growing renewable capacity, evolving policy and increasing market uncertainty are changing how wind projects are valued and financed.

What’s one thing you would like listeners to take away from this?

• Understanding wind cannibalisation and its impact on electricity pricing is becoming essential for anyone involved in the energy transition. As renewable capacity continues to grow, anticipating how market dynamics, policy changes and risk allocation evolve will be critical to supporting investment while keeping the electricity system affordable and resilient.