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The Renewables Obligation represents the UK Government's main policy measure for stimulating the growth of electricity generation from renewable sources. [20] The Government envisages that 30% of electricity demand will need to be generated by renewable sources [ 21 ] in order for the UK to meet a legally binding EU target of obtaining 15% of ...
The UK Government announced in the 2006 Energy Review an additional target of 20% by 2020–21. For each eligible megawatt hour of renewable energy generated, a tradable certificate called a Renewables obligation certificate (ROC) is issued by Ofgem.
Non-domestic consumers can avoid paying the Climate Change Levy by acquiring Levy Exemption Certificates from renewable energy suppliers. Since these are not required by domestic consumers, it is possible for the supplier to sell the certificates to the non-domestic sector, as well as selling the renewables obligation certificate and the electricity.
Suppliers meet the Renewables Obligation by submitting a certain number of Renewable Obligation certificates (ROCs) each year to Ofgem, which demonstrates that the certified electricity has come from a renewable source. If a supplier is unable to produce the required number of ROCs, they must pay an equivalent cash amount, the 'cash out price ...
In December 2010, the Government introduced plans to reform the electricity market. [4] The Electricity Market Reform (EMR) introduced both a capacity market to incentivise reliable generation and Contracts for Difference to provide revenue certainty to developers investing in low carbon and renewable energy, but at a lower cost that the Renewables Obligation.
The UK Government announced in the 2006 Energy Review an additional target of 20% by 2020–21. For each eligible megawatt hour of renewable energy generated, a tradable certificate called a renewables obligation certificate(ROC) is issued by OFGEM.
A renewable portfolio standard (RPS) is a regulation that requires the increased production of energy from renewable energy sources, such as wind, solar, biomass, and geothermal. Other common names for the same concept include Renewable Electricity Standard (RES) at the United States federal level and Renewables Obligation in the UK.
Generators of renewable electricity larger than 5MW remain eligible to earn Renewables Obligation Certificates within the existing Renewables Obligation quota mechanism. To prevent companies from moving large scale (for example big wind) projects from the ROCs to the Feed-in Tariff programme, measures were taken to discourage the breaking-up of ...