Responding to today’s announcement on the faster review of support under the Renewables Obligation, Gaynor Hartnell, Chief Executive of the REA said:
“We’re pleased that Government
has listened to the REA
and its members. Developers of some of the larger projects cannot be certain they can commission in time to benefit from the current banding levels and waiting until August 2012 was not an option. It certainly helps to have clarity 14 months earlier – but some need that certainty now. We are pleased that DECC is receptive to the needs those particular developers that are in this position and some of our members have been in to the Department to discuss their predicament.
We are confident that the Government
wants to help and this is a move in the right direction.”
FASTER REVIEW OF SUPPORT FOR RENEWABLE ELECTRICITY TO PROVIDE INVESTOR CERTAINTY
Developers of new large-scale renewable electricity projects will get earlier and greater certainty about how much support they will receive under the Renewables Obligation from 2013, Energy Minister Charles Hendry announced today.
Industry will now get an indication of the support they will receive for new large-scale projects that start generating renewable electricity from April 2013, as early as mid-July 2011. Under previous arrangements, support levels were not due to be finalised until Autumn 2012, meaning developers had been reluctant to start projects with long construction periods.
DECC now intends to consult on new banding proposals in Summer 2011 and confirm the new bands by Autumn 2011. The new bands will take effect on 1 April 2013 as originally planned, subject to State Aids and Parliamentary approval.