Caroline Lucas – 2014 Parliamentary Question to the Department for Energy and Climate Change

The below Parliamentary question was asked by Caroline Lucas on 2014-07-15.

To ask the Secretary of State for Energy and Climate Change, what estimate he has made of the total amount of Levy Control Framework budget spent on the Renewables Obligation in 2013-14; and what his forecast is for Renewables Obligation spend in 2014-15.

Matthew Hancock

Total expenditure on the Renewables Obligation (RO) in 2013/14 is estimated to be approximately £2.6 billion. This is calculated by multiplying the provisional obligation for the year, 61.5 million ROCs, by the buy-out price for that year, £42.02. The final obligation, and therefore overall spend, will not be confirmed until October 2014.

Forecast expenditure on the RO in 2014/15 is approximately £3.1 billion. This is based on the provisional obligation for the year, 72.3 million ROCs, multiplied by this year’s buy-out price, £43.30.