As the industry prepares to take part in the first ever CfD allocation round, Charles Yates analyses the risks around implementation

Contracts for Difference (CfDs) are the most important part of Electricity Market Reform (EMR), the biggest change to the UK electricity markets since privatisation in 1990.  Implementation of the CfD has got serious and urgent in the run up to the first auction, which closes on 3 December this year.  So it is timely to review where we are and what remains to be achieved before the end of the year.  
Key expected milestones are: