RenewableUK welcomes new plan for cheaper UK electricity bills

Wind Industry Profile of

The clean energy industry’s trade body, RenewableUK, is backing proposals to develop new fixed price contracts for older wind and renewable generation sources that would cut bills for consumers and reduce exposure to volatile gas prices.

The proposals would allow wind and other renewable projects supported by the Renewables Obligation to opt for new long-term, fixed price contracts. Under the RO, which closed to new renewables projects in 2017, generators trade their power on the market and receive a fixed amount of subsidy to cover the investment cost of more expensive older renewables. The new scheme would see the market power price – which is set by gas – replaced by a fixed price contract. This would ensure that the long-term costs of keeping these... ... More: Official Press Release RenewableUK

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