Renewable energy subsidies cut
The Government has announced measures to deal with an “over-allocation of renewable energy subsidies” saying it needs to better control over spending and ensure energy bill payers get the best possible deal:
Measures announced today include:
- Removing the guaranteed level of subsidy for biomass conversions and co-firing projects for the duration of the Renewable Obligation, known as grandfathering.
- Launching a consultation on controlling subsidies for solar PV of 5MW and below under the Renewables Obligation (RO). This includes consulting on early closure and removing the guaranteed level of subsidy for the duration of the RO, known as grandfathering.
- A consultation on changes to the preliminary accreditation rules under the Feed-in Tariff (FIT) scheme followed by a wider review of the scheme to drive significant further savings.