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11 Feb 2009 05:02:02

Renewable obligation buy-out to rise to £37.29



Renewable obligation buy-out to rise to £37.29
Energy firms which do not meet their renewable obligations will have to pay a buy-out price of £37.19 per megawatt hour (MWh), according to Ofgem.

The energy regulator expects the figure to rise from the present £35.76 MWh, while the amount of renewables companies will have to provide is also expected to rise.

At the moment, utilities have to generate 9.1 per cent of their energy from renewable sources and make up the shortfall by buying Renewable Obligation Certificates (ROCs) from firms with a surplus.

But starting in April, when the Renewable Obligation Order 2009 comes into effect, Ofgem expects companies will have to source 9.7 per cent of their electricity from renewables.

Money from so-called buy-outs goes into a central pot which is then handed back to firms that handed in ROCs.

Earlier this month, Ofgem released guidelines for green tariffs.

The new guidelines said that energy companies had to prove that they were benefitting the environment in a way that was surplus to what was legally required.

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