The chief of the UK's biggest energy producer reckons operators must earn substantially more money for electricity they produce to entice companies to build.
Tom Glover, country chair of RWE’s UK arm, said the price offered by the government must rise by up to 70%.
£44 per megawatt hour (MwH) is currently offered following the most recent auction in September, though Mr Glover says that must rise to between £65 and £75.
The government-run auction last month flopped with not a single company offering to build new offshore wind farms.
2030 target in danger
Plans for the next allocation round are expected to be published in coming weeks, though there are fears that price increases could mean higher consumer bills.
However, with the UK Government in danger of missing its target of building 50 gigawatts (Gw) of offshore wind capacity by 2030, steps may need to be taken to incentivise more investment.
Currently, the UK has capacity for just 14Gw of offshore wind, meaning the country will need to install a new turbine every day to reach its goal.
In the UK, RWE supplies 15% of the nation’s electricity – making it the biggest single power generator with an output sufficient for 14m homes.
"We need to see a materially higher price. Every project is different but £65 to £75 feels about the right range," said Mr Glover.
He added that the failure of the last round was avoidable had industry been listened to.
"The industry warned the Government about this.
"We’d seen a global increase in costs of up to 40pc and demand was also booming because, post-Ukraine, everybody wants more energy independence.
"The industry warned the Government but it decided not to increase the prices."
A Department for Energy Security and Net Zero spokesman said it was planning "appropriate adjustments" to the contracts for difference offered to offshore wind developers.
The spokesman said: "We have contracted 20Gw of offshore wind since 2014 – cementing the UK as a world leader in the technology with the five largest operational wind farms in the world off our shores.
"The Government remains committed to its ambition for 50Gw of offshore wind, including up to 5Gw floating wind, by 2030."