Ofgem has published the latest Renewables Obligation (RO) annual report.
According to the latest data, 108.3 million Renewables Obligation Certificates (ROCs) were issued, a slight increase from the previous year.
In terms of compliance, licensed electricity suppliers presented 107.7 million ROCs in scheme year 21 (SY21 – 1st April 2022 to 31st March 2023), covering 88.4% of the total obligation.
However, suppliers injected £748.6 million into buy-out and late payment funds to address the shortfall, highlighting the financial implications involved.
UK Energy Incubator Hub, unable to fulfil obligations and ceasing trading during SY21, resulted in a non-compliance shortfall of £99,520.16.
Despite this, mutualisation – a mechanism redistributing non-compliance burdens – was not activated, indicating positive progress since scheme year 16.
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