After a week or more of daily discussion on energy prices it is very heartening to hear this release from DECC, the wisdom of investing in energy generation has not been lost in a wave of political jousting. Clearly we know fossil fuels will in general continue to get more expensive and we know the climate is on a knife edge, we must invest now to mitigate the worst of these trends.
The Department of Energy and Climate Change (DECC) has released a statement confirming that investor schemes such as the feed-in tariff (FiT), renewables obligation (RO) and contracts for difference (CfD) will not be affected by the Prime Minister’s ‘green levies review’.
The DECC statement reads: “No one is talking about changing investment incentives for renewables, such as the renewables obligation, contracts for difference and feed in tariffs, which are essential for investor confidence in the renewables sector and our commitments to a low-carbon economy. Between now and 2020, the support we give to low carbon electricity will increase year-on-year to £7.6 billion – a tripling of the support for renewable energy.”