The value of renewable energy certificates continues to rise in Britain. Despite last year's upsets in the market for renewable obligation certificates (ROCs), the latest auction of Scottish ROCs reveals record high prices. An average of £49.11 was paid for ROCs from generating stations holding Scottish Renewables Obligation contracts; the previous highest average price being £48.21. Over 166,000 ROCs were bought in the online auction held by the Non Fossil Fuel Purchasing Agency (Scotland) in April. The £8 million raised by the auction goes to reduce payments from the Scottish Fossil Fuel Levy-the charge on electricity customers to pay for renewables support for operating power plant built under the now-defunct Non Fossil Fuel Obligation. The levy is administered by Scotland's two main electricity suppliers, ScottishPower and Scottish and Southern Energy (SSE), who buy the output from SRO projects.
Have you registered with us yet?
Register now to enjoy more articles and free email bulletins.