Energy suppliers owe £30m in Renewables Obligation payments

Ofgem has reported a shortfall of more than £30m in the Renewable Obligation buyout funds after four suppliers failed to meet the initial payment deadline.

However, the shortfalls in the buy-out funds for England and Wales and for Scotland for 2024/25 were below the threshold for mutualisation.

The deadline for suppliers to make late payments is 31 October.

Suppliers were able to meet their obligations for 2024/2025 by presenting Renewables Obligation Certificates (ROC) to the regulator or by making a buy-out payment of £64.73 per ROC.

The shortfall reported for the previous period was £14.2m.