Renewable subsidy announcement delayed
Widespread criticism has been directed at The Department of Energy and Climate Change (DECC) after it took the decision to delay an announcement on the amount of subsidy renewable energy initiatives would receive.
Although ministers were expected to reveal the amount of support renewable energy projects would receive from the government - from April next year (2013) - round about now, the DECC has stated that it is "still discussing and finalising" details.
Many green energy suppliers rely on subsidies, as well as investment, to fund renewable energy projects. Â Some sections have expressed their concern at the decision.
ScottishPower stated that sticking to a timetable was vitally important in retaining the confidence of investors, whilst Tom Greatrex, shadow energy minister for the Labour Party, has claimed that "dithering" by ministers could bring clean energy investment to a standstill.
The DECC said in a statement: "We will not be making an announcement today. We will bring forward the proposals in due course as we are discussing and finalising the details.
"We are committed to supporting renewables as part of our energy mix, and will continue to work hard to finalise the detail for the ROC subsidies at the earliest opportunity, but, it is important to get the levels right, and base these on evidence.
"The renewables sector is crucial for sustainable economic growth, supporting jobs up and down the country, attracting inward investment and helping us to reduce emissions in order to tackle climate change," the statement concluded.
Keith Anderson, chief corporate officer at ScottishPower, said:Â "We are worried by reports that the announcement on the outcome of the ROC Branding review may have been deferred again. One of the key advantages of the UK as a place to invest is the predictable nature and stability of its regulatory regime.
"Sticking to the evidence and the timetable is key to investor confidence. We know that maintaining support for relatively inexpensive onshore wind is likely to be the best option for customers, and we see no reason why an outcome can't be agreed before the Olympics begin," he added.
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