The UK Government has confirmed a new wave of onshore renewable energy projects under the Contracts for Difference scheme, following last month’s record-breaking offshore wind auction.

Results from Allocation Round 7 (AR7) show 4.9GW of solar and 1.3GW of onshore wind capacity secured across Britain, reinforcing the pace at which clean power is being rolled out across the country.

Solar projects were awarded contracts at a strike price of £65.23 per megawatt hour (in 2024 prices), below the £70/MWh achieved in Allocation Round 6 and representing the largest volume of solar capacity ever secured in a single CfD auction.

Onshore wind projects were secured at a strike price of £72/MWh, slightly above the AR6 average of £71/MWh but still below the £73/MWh seen in Allocation Round 5, reflecting continued cost stability in the sector.

Once built, the projects announced today will lift the UK’s total CfD-supported wind and solar capacity to 50.6GW, including schemes already operational or under construction. The UK currently has 16.3GW of installed onshore wind capacity and more than 21GW of solar capacity, based on figures up to September 2025.

In total, AR7 has secured 14.7GW of renewable energy projects across all technologies, marking another significant step towards decarbonising the power system and strengthening domestic energy supply.

Frankie Mayo, senior analyst at Ember, said the results underlined the momentum behind clean power deployment across Britain.

“This is a great clean power achievement,” Mayo said. “Wind and solar are unstoppable across Britain, with new projects announced today unlocking access to reliable, homegrown energy and cutting our reliance on volatile fossil fuels for decades to come.”

The latest CfD results come as ministers continue to position renewable energy as central to the UK’s long-term energy security and net zero strategy, with onshore wind and solar increasingly seen as among the fastest and most cost-effective technologies to deploy at scale.

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Official Budget forecasts were accessed almost 25,000 times before their formal release after a leak at the Office for Budget Responsibility, according to a new investigation by the UK’s cyber security authorities.

A report by the National Cyber Security Centre found that documents prepared by the Office for Budget Responsibility were downloaded on “at least” 24,701 occasions in the hour before Rachel Reeves delivered her Budget speech on 26 November.

The figure is far higher than the 43 downloads cited in an initial internal review. The NCSC said the first full download of the OBR’s forecasts occurred shortly after 11.35am on Budget day, almost an hour before the Chancellor addressed the Commons, following more than 500 failed access attempts.

According to the report, links to the documents then spread rapidly on social media, leading to tens of thousands of downloads. Within 30 minutes, there were 20,547 successful downloads from more than 10,000 unique IP addresses.

The investigation also revealed that Ms Reeves’s Spring Statement last March had been accessed 16 times before the speech was delivered, contradicting earlier claims that there had been no prior access.

The leak prompted the resignation of Richard Hughes, who stepped down as OBR chairman after the organisation described the incident as the most serious failure in its 15-year history.

The premature release of the forecasts confirmed several Budget measures ahead of the speech, including changes affecting middle-income homeowners and an extension of stealth tax measures. The disclosure is understood to have caused significant disruption in the final moments before the Chancellor delivered her address.

Kenny MacAulay, chief executive of accounting software firm Acting Office, criticised the handling of sensitive information. “It beggars belief that market-sensitive data could fall into the hands of tens of thousands of people due to sloppy document management ahead of such an important event,” he said. “Basic compliance requirements should prevent leaks of this nature.”

Graeme Stewart, head of public sector at Check Point, said the breach exposed serious risks. “With tens of thousands able to access the full economic forecast in advance, the opportunity for market manipulation by hackers or fraudsters was immense,” he said, calling for a fundamental rethink of publication processes.

Mr Hughes’s departure followed weeks of tension between the Treasury and the OBR, after the watchdog downgraded its long-term growth outlook for the UK economy. Ms Reeves was later accused by critics of having misled the public over the state of the public finances, after government briefings painted a bleaker picture than subsequent data suggested.

The Treasury said it was taking steps to strengthen security and safeguard the integrity of economic forecasts. Future OBR documents will now be published exclusively via the government’s official website, in an effort to prevent a repeat of the breach.

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The Hamptons housing market just made a new splash, but the surge is not being driven by everyday homebuyers.

Instead, cash-rich Wall Street and tech executives are powering a boom in multimillion-dollar sales, pushing median prices to an all-time high even as overall sales activity softens, according to new data.

According to a new report from Douglas Elliman and Miller Samuel, Hamptons homes hit the highest median sales price on record at $2.34 million, up 25% year over year. The average sales price also rose 25% annually to $3.76 million.

“The catalyst is absolutely tied to capital markets,” Douglas Elliman’s Adam Hofer told Fox News Digital. “The Hamptons has always been a discretionary, wealth-driven marketplace. When Wall Street performs, when liquidity events happen in tech, when bonuses are strong, that money needs a place to land and for many high-net-worth buyers – that place is the Hamptons.”

MIAMI MOVES AHEAD OF NEW YORK IN $1M-PLUS HOMES AFTER NEARLY A DECADE

“That said, this isn’t just a speculative spike,” he said. “Inventory remains structurally constrained, especially south of the highway and in turnkey properties. Unlike the pre-2008 era, today’s buyers are largely cash-heavy and less leveraged, which makes this appreciation feel more sustainable.”

“So yes, Wall Street momentum fuels the top end, but limited supply and long-term lifestyle demand are what’s keeping values elevated.”

Luxury sales are doing the heavy lifting in the Hamptons, with sales over $5 million reaching a record high in the fourth quarter of 2025. Douglas Elliman internal data also shows property closings over $10 million were up 75% year over year, and there were four closings of $20 million or more in 2025, compared to just one the previous year.

“The luxury buyer is operating in an entirely different universe from the average homeowner. All cash transactions at $5 million and above signal confidence, liquidity and a long-term mindset. These buyers are less sensitive to interest rates and more focused on lifestyle, legacy and asset diversification,” Hofer said.

“In contrast, the middle market is highly rate-sensitive. A one-point swing in mortgage rates dramatically impacts affordability. But when you’re writing an $8 million or $15 million check in cash, rate volatility becomes background noise,” he said. “It highlights a divided market that’s becoming more pronounced nationally. Rate sensitivity is creating friction in the middle tier, while the top 10% of buyers continue to transact with relative ease. The Hamptons is simply a magnified version of what’s happening across the country.”

But inventory is tight. Despite a slight increase in listings across the area in the fourth quarter of last year, months of supply fell to 6.8, down 24% from 2024, while luxury months of supply also declined sharply to 16.4 months.

Buyers are reportedly competing hardest for ocean and waterfront properties, turnkey, renovated homes in prime neighborhoods such as Southampton, Sag Harbor and East Hampton.

“Construction timelines, labor costs and permitting uncertainties have made move-in-ready product a premium commodity,” Hofer noted. “Waterfront and properties with protected water views continue to command outsized demand, and that’s where buyers are willing to stretch the furthest. There’s a finite amount of waterfront in the Hamptons, and sophisticated buyers understand that scarcity.”

While not fully captured in the report, the early summer rental surge lines up with the data, as buyers are committing earlier, luxury confidence remains high, and seven-figure demand is not slowing.

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“Strong rental demand is often a leading indicator of buyer confidence. When high-end rentals lock in early and at premium rates, it signals that people want to be here and that the Hamptons lifestyle remains a priority,” Hofer pointed out.

“For buyers waiting for a significant price correction,” he said, “the rental market suggests that underlying demand hasn’t weakened. In fact, many renters ultimately convert to buyers after experiencing the market firsthand. Sitting on the sidelines in hopes of a dramatic pullback may mean competing later in an even tighter inventory environment.”

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Benchmark indices Nifty and Sensex extended their gains for a second straight session on Tuesday, supported by a sharp rally in auto and metal stocks that lifted overall sentiment. Meanwhile, broader markets outperformed, with midcap and smallcap indices rising 0.5% and 0.35%, respectively.

The BSE Sensex rose 208 points to close the session at 84,274 or 0.25% higher, while the Nifty 50 gained 68 points or 0.26% points to end the day at 25,935.

On the 30–share Sensex, Eternal rose over 5% to end the session as the top gainer on the index. Tata Steel followed suit with a rise of 2.82%, while M&M and Tech Mahindra gained more than 1.5% each. HCL Tech, Bajaj Finance, Bharti Airtel, and Adani Ports fell up to 2% on Tuesday.

Expert views

Vinod Nair, Head of Research, Geojit Investments said today’s rise was supported by the US trade agreement and positive cues from key Asian markets. A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering the investor sentiment, although intermittent profit-booking was visible across sectors. With tariff-related concerns largely easing, the near-term market trajectory will hinge on Q3 earnings, which have been mixed and below expectations so far. Investors are now focused on the combined impact of recent fiscal and monetary measures to revive earnings momentum in the coming quarters.”

Global Markets
Asian equities moved higher on Tuesday, with gains led by Tokyo markets extending their rally after Japanese Prime Minister Sanae Takaichi’s decisive election win over the weekend. MSCI’s broad Asia-Pacific index excluding Japan rose 0.6%, while the Nikkei 225 climbed 2.3% for a third straight session to a fresh high. The yen also strengthened for a second consecutive day.European markets opened on a mixed note as investors assessed a wave of corporate earnings announcements. The Stoxx index was largely flat with no clear trend across major markets and sectors, while Germany’s DAX advanced 0.4%.

U.S. stock futures traded slightly lower on Tuesday morning after the Dow Jones Industrial Average closed at a fresh record high. Dow futures declined by 25 points, or about 0.04%, while S&P 500 futures slipped 0.06% and Nasdaq 100 futures fell 0.2%.

Crude impact

Oil prices edged higher on Tuesday as traders assessed the risk of potential supply disruptions, with U.S. guidance for vessels passing through the Strait of Hormuz keeping geopolitical tensions between Washington and Tehran in focus.

Brent crude futures rose 29 cents, or 0.4%, to $69.33 per barrel by 0916 GMT, while U.S. West Texas Intermediate crude gained 22 cents, or 0.3%, to $64.58 per barrel. “The market is still focused on the tensions between Iran and the U.S.,” said Tamas Varga, oil analyst at brokerage PVM.

Rupee vs Dollar

The Indian rupee ended 0.2% higher at 90.5775 against the U.S. dollar, compared with its previous close of 90.7575.

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)