By 1 September suppliers had presented 105,263,447 Renewables Obligation Certificates (ROCs), Ofgem reports. The volume represents a shortfall of more than 10% – 13,827,297 ROCs – against the obligation for the year of 119,090,744. The deadline to present ROCs was 1 September.
Suppliers who did not meet their entire obligation through presenting ROCs will, between them, have to meet the shortfall through buy-out and late payments. The deadline to make buy-out payments was 31 August, and the deadline for late payments is 31 October.
Ofgem said it will confirm the amounts suppliers have made in buy-out payments, and what we have redistributed back to them, after we withdraw our administration costs in October. We will then confirm the amount of late payments made by suppliers and redistributed by us, together with the recycle value for the 2020/21 period in November or December.