RO

  • Media Mentions

    Current | Mutualisation of Renewables Obligation triggered for third year as suppliers struggle to meet payment deadlines

    For the third year in a row, mutualisation of Renewables Obligations (RO) has been triggered according to Ofgem. A number of suppliers failed to make their 2019-20 RO payments by the late payment deadline of 31 October 2020. This lead to a "relevant shortfall" in the clean energy support mechanism....

  • Press Releases

    Cornwall Insight comments on Renewables Obligation mutualisation

    Commenting on the announcement that Ofgem has confirmed mutualisation has been triggered for the 2019-20 compliance period (CP 18) of the Renewables Obligation (RO), Tim Dixon, Wholesale Team Lead Cornwall Insight, said: “This will be the third consecutive year in a row that mutualisation will have been triggered. This CP...

  • Media Mentions

    Current | Cornwall Insight warns of risk of RO mutualisation

    The risk of Renewable Obligation (RO) mutualisation has grown, as the supply market continues to be challenging. Currently, there is a potential shortfall in the RO buy-out fund of approximately half of the £16.94 million mutualisation threshold. The shortfall has been created by supplier exits. Although, fewer have left the...

  • Press Releases

    Heightened risk of suppliers failing to meet their Renewables Obligation

    Latest forecasts from Cornwall Insight show a potential shortfall in the Renewables Obligation (RO) buy-out fund of approximately half of the £16.94mn mutualisation threshold. Supplier exits to date alone are not expected to trigger the mutualisation process. However, there is a heightened risk that some active suppliers may now be...

  • Press Releases

    Cornwall Insight Explainer: Renewable Obligation Mutualisation

    Ofgem confirmed on 7 November that mutualisation for the Renewables Obligation (RO) had been triggered for 2018-19 – Compliance Period (CP) 17 – the second consecutive year this has happened. The initial shortfall in buy-out payments was £206.0mn, more than double last year’s level, against a total amount owed of...

  • Media Mentions

    Yahoo Finance | Households could be billed twice for green tax after suppliers go bust

    Robert Buckley, Head of Retail and Development commented on suppliers missing the annual deadline to pay the Renewables Obligation in August. Cornwall Insight estimated that just under £71 million will be missing from the fund after the October 31 deadline, with Economy Energy, which went bust in January owing the...

  • Press Releases

    Cornwall Insight comments on the looming Renewables Obligation mutualisation

    The end of this month marks the end of the annual Renewables Obligation (RO) compliance period where electricity suppliers that have not already fulfilled their obligation must make payments into the ‘late payment fund’. Last year, the series of supplier exits from the market created a shortfall in payments due...

  • Press Releases

    Cornwall Insight responds to Ofgem’s announcement on Toto energy exiting the market

    Commenting on Ofgem’s announcement that Toto Energy has ceased to trade Robert Buckley Head of Retail and Relationship Development at Cornwall Insight, said:  “Failure of any business affects many people, including its customers, and it is always sad to see one fail. “The Renewables Obligation (RO) deadline is looming, and...

  • Press Releases

    Higher energy bills likely due to the Saudi oil attacks

    Confirmation from the Saudi Arabian energy minister that drone strikes had reduced the country’s oil output by around half is set to resonate across the energy markets, raising the prospect of higher energy bills for customers. Early trading today has seen the price of oil increase from $60.22/bl to $71.95/bl...

  • Press Releases

    More than £40mn to be recovered from consumers due to failed suppliers Renewable Obligations

    As generators are starting to receive their final Renewables Obligation Certificates (Rocs) for generation during the compliance period (CP)17 (2018-19) of the Renewables Obligation (RO), eyes will soon be turning to suppliers regarding the upcoming compliance deadline this summer. Latest calculations from Cornwall Insight’s Long-term Roc Market Forecast, predict that...

  • Press Releases

    Renewable Obligation mutualisation predicted to be almost £44mn

    To protect the financial integrity of the Renewables Obligation (RO), a mutualisation mechanism kicks-in where sufficient missing payments creates a shortfall in the buy-out fund. Mutualisation recovers these missing payments from the remainder of the supply market. Mutualisation was triggered for Compliance Period (CP) 16 (2017-18) after 14 suppliers failed...