Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.K. Sets Renewables Obligation Buy-Out Price at 42.02 Pounds

Feb. 13 (Bloomberg) -- The U.K. will require power suppliers to pay a buy-put price of 42.02 pounds ($65.36) from April for any shortfall they have in certificates they’re required to hold to prove their power is from renewable sources.

The rate, which applies for the 2013-14 tax year, is an increase of 1.31 pounds on the current level, according to an e-mailed statement today from the energy regulator Ofgem. The regulator is required to set a new rate every year in line with changes to inflation levels.

The charge falls under the government’s Renewables Obligation program, which requires EON AG, RWE AG and other power suppliers to hold an annually-increasing amount of the certificates, known as ROCs, or pay a buy-out price. the certificates prove the power is from the wind, sun, hydro-power and other renewable sources.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.