Electricity suppliers in the UK are facing a pressing deadline as they strive to meet their Renewables Obligation (RO) for the upcoming period.
Mandated by the Department for Energy Security and Net Zero, this obligation necessitates that licensed electricity suppliers source a specific portion of their supplied electricity from renewable sources.
Electricity suppliers are granted a window until 1st September, to fulfil their obligations for the 2022/23 period.
This deadline extends to 31st August for those opting for buy-out payments.
The avenues available for compliance include the presentation of ROCs, a buy-out payment at a rate of £52.88 per ROC, or a strategic blend of both approaches.
The total cumulative obligation for the 2022/23 period has been calculated at 121,847,263 Renewables Obligation Certificates (ROCs), distributed among the various regions: 109,608,100 ROCs for England and Wales, 10,822,484 ROCs for Scotland and 1,416,679 ROCs for Northern Ireland.
