RE Prices May Increase in UK

The price of renewable power is set to increase next year because of a lack of renewable power projects coming forward and a slippage in the start dates of some major projects, according to the latest Renewable Obligation Certificate (ROC) Price Marker produced by Platts and the Renewable Power Association.

London, England – February 3, 2003 [] The price of ROCs is predicted to be around £56 (US$91) in the next financial year – significantly up from the £53 (US$86) figure predicted previously by the marker. Although the price of ROCs for the two following years falls to around £45 (US$73), it rises again in 2006/7 to around £56 (US$91) under the medium build scenario. ROCs are the currency of the Renewables Obligation (RO), introduced in April 2002, to encourage suppliers to buy green power from new renewable projects. By 2010 the British government wants 10 percent of Great Britain’s electricity supplies to come from renewable sources, such as wind, biomass, wave, solar and tidal power. It is anticipated the forthcoming Government White Paper on energy will increase the renewables target to 20 percent by 2020. “The high price of ROCs shows that there is a real risk that the government will not reach its 2010 renewables target,” said Dominic Maclaine, editor of Platts Power UK. “If it wants to double the size of the obligation for 2020, the government will have to think carefully about how to ensure the success of the Renewables Obligation and to make sure that as many barriers as possible facing renewable plant are removed.”
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