Ofgem has identified a combined shortfall of over £60 million pounds in two funds underpinning the UK’s solar energy subsidy regimes, taking aim at late payments from energy suppliers. The regulator yesterday revealed that subject to review by an auditor, a shortfall of £58.6million was found in the buy-out fund of the Renewables Obligation scheme. This requires suppliers that do not source the required proportion of electricity from renewable sources to pay into a fund administered by Ofgem. This is used to cover the scheme’s administrative costs before being redistributed to suppliers in proportion to the amount each sourced a proportion of their supply from eligible renewable sources.
Solar Power Portal 22nd Nov 2018 read more »
Wind and solar power – if distributed using smart, flexible power grids – could meet around 50% of the UK’s electricity demands by 2030, at a price parity with coal, oil or gas generation. That is a key finding of new report commissioned by the Energy and Climate Intelligence Unit (ECIU) and published by consultancy New Resource Partners, which reveals that a smart grid based around wind and solar generation could meet half of Britain’s energy demands even during “wind and solar lulls” in the middle of winter. Entitled ‘GB’s power transition: Get smart’, the report uses real-world data on renewable generation to lay out several scenarios covering possible future outlooks for the UK’s energy mix. In the scenario where renewable sources were producing the least power during a period of peak demand – namely during a 21-day period in January with little to no generation – Britain’s energy supply would remain sufficient to meet demand and “robust” energy security would be guaranteed, according to the report.
Edie 22nd Nov 2018 read more »