ABSTRACT
The Renewable Obligation (RO) is the main support scheme for renewable electricity projects in the UK. The RO was extended from its current end date of 2027 to 2037, in April 2010, for new projects with a view to providing greater long-term certainty for investors and an increase in support for offshore wind projects. The RO is administered by the Office of the Gas and Electricity Markets (Ofgem) and suppliers of electricity have to prove they have met this obligation, producing Renewable Obligation Certificates (ROCs) to renewable electricity generators at the end of each year. Due to ROCs having the potential to save the supplier from having to commit to a buy-out payment, it increases the price of the electricity. Auctions are operated by NFPAS, a subsidiary of the Non-Fossil Purchasing Agency Limited (NFPA) and are usually held four times a year. NFPAS runs regular e-ROC on-line auctions for the sale of Renewable Obligation Certificates (ROCs).
