Renewable Energy
The question
To ask the Secretary of State for Energy Security and Net Zero, what estimate his Department has made of the cost of the Renewable Energy Guarantee of Origin scheme in each year since 2003.
Answered by Michael Shanks
REGO certificates are issued by Ofgem to eligible generators for free, and certificates are then purchased by electricity suppliers to surrender in the Fuel Mix Disclosure process. This has generated a market for the sale and purchase of certificates.
The price of REGOs fluctuates, though credible external estimates suggest that the latest spot market price is around £7 a certificate. Ofgem reports 130 million certificates are issued per year, giving an overall market value of around £910m annually.
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