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Renewables Obligation (RO) Annual Report 2017-18

Reports, plans and updates

21 March 2019

103.22 million Renewables Obligation Certificates (ROCs) were presented by suppliers. This was 87.6% of the total obligation of 117.8 million ROCs, and a slightly lower proportion in comparison to the 89.5% presented for the 2016-17 obligation year.
This resulted in the largest buy-out and late payment funds ever recorded on the scheme - totalling over £608.1 million.
Each ROC was worth £51.43, leading to a scheme value of £5.3 billion.

In 2017-18, 14 suppliers did not meet their obligation: this resulted in a shortfall of £58.6m in the buy-out fund. This shortfall triggered mutualisation for the first time in the RO schemes’ history.

We issued 100.6 million ROCs in 2017-18. This is 16.7% more than the 86.2 million ROCs issued in 2016-17.
ROCs were issued based on 75.2TWh of renewable generation. This was equivalent to 26.4% of the UK electricity supply market. When combined with the 8.4TWh generated by Feed-in-Tariff (FIT) installations, this figure rises to 29.3%.

In 2017-18 we accredited 142 generating stations, a significant reduction from the 5,095 generating stations accredited in 2016-17.
The majority (104) of the stations accredited were onshore wind stations in Northern Ireland.
The reduction in accredited stations reflects the fact the scheme is now closed - only stations which meet specific grace period criteria have been able to gain accreditation since 31 March 2017.
The aggregate capacity of stations accredited during 2017-18 was 1,983MW, a 43% decrease on the 3,493MW reported for 2016-17.
From the start of the scheme in 2002 until the end of 2017-18, we have accredited 26,422 generating stations with a total capacity of 32.7GW.

Ofgem is the Office of Gas and Electricity Markets.