Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 15 December 2022, Poland’s Energy Regulatory Office (ERO) approved the individual prices in the Contracts for Difference for both stages of the 2.5 GW Baltica offshore wind project, namely Baltica 2 and Baltica 3. The CfD strike price for these stages was set at the maximum level of PLN 319.60/MWh, equivalent to about EUR 67.93/MWh. This decision finalised the pricing of the CfDs, completing the two-step Phase I support process for Baltica 2 and securing its main revenue mechanism for 25 years. The approval follows earlier selection of the project into the CfD scheme and provides long-term revenue stability for the 1.5 GW offshore wind farm jointly developed by PGE and Ørsted.