The latest auctions of renewable electricity show prices have still not recovered fully from last year's turmoil in the market for renewables obligation certificates (ROCs). In the Non Fossil Fuel Purchasing Agency's February auction of contracts signed under the UK's now obsolete Non-Fossil Fuel Obligation (NFFO), the average price of purchased electricity was £0.0602/kWh, 12% below the record high of £0.0681. This was achieved in August -- just before shock waves from the demise of TXU Europe halted trades and sent the value of ROCs plummeting (Windpower Monthly, October 2003). Lower prices in the February auction are to be expected, however, since it covers the summer period. But the price is also slightly down on the £0.0626/kWh obtained for the corresponding period last year. Prices are for electrical output and -- for most renewable technologies -- ROCs and Climate Change Levy exemption certificates (LECs). Eleven bidders won some 704 MW of power from 260 contracts. For Scottish renewables plant, where the ROCs are auctioned off separately from the Scottish Renewables Obligation contracts, ROC values are more transparent. Latest ROC prices are up on the results of the previous auction held in October -- again after the market disruption. Over 96,000 ROCs were bought in January at an average price per certificate (representing 1 MWh of energy) of £47.46. This price is 3% higher than the £45.93 figure in October, but still lower than July 2003's record of £48.21 per ROC.
Windpower Monthly Events
Offshore Renewables EIA Consenting Project Manager JSM Associates Flexible