Energy Crisis Package Meeting
Following the Prime Minister’s announcements yesterday, the REA joined a briefing session with senior BEIS officials to discuss details of the proposals being brought forward. Please see below a number of questions that are being posed by the Secretary of State for BEIS quite specifically to our power generators and finance /investment members. The full briefing on the energy crisis measures, distributed to members on Friday, can be found here.
On the voluntary CfD, some critical questions that remain outstanding include:
• How should the clearing price be set for the CfD?
• Should all technologies be treated the same and, if not, what is a sensible way of dividing them up?
• How should such a contract account for existing PPA or hedged arrangements?
• How long should such a contract last for?
• How would such a CfD impact the ability of existing sites to then contract onto other innovative business models currently being developed, such as BECCS or hydrogen models?
• What is a realistic timeline for seeing this delivered?
The REA have organised a meeting to hear from interested members across the following forums: AD, Biomass, Energy from Waste, Landfill Gas, and Solar. The discussion will take place tomorrow afternoon, Tuesday 13th September 15.00 – 16.00 (Online) to help us plan our response to these questions.
We understand that this is short notice, but it is very important that we are in a position to respond to these proposals, especially in light of the 1st October date, and ensure the interests of our members and sector are put forward to Government.
Joining details will be sent to those who register above.