The 2018-19 RO late payment fund (£109,529,764) was redistributed on 04 December 2019 to suppliers who presented Renewables Obligation Certificates (ROCs) within the 2018-19 compliance year (1 April 2018 – 31 March 2019). Suppliers received a total of £7.82 per ROC presented after the redistribution of the buy-out and late payment fund for 2018-19.
After the late payment deadline of 31 October 2019, an additional total sum of £38,791,102.77 was recovered from suppliers who failed to discharge their Renewables Obligation (RO) as of the deadline date. These funds were received in the period 1 November 2019 – 31 March 2020. The total sum, which includes interest earned while in our account up until the 11th of May 2020, was redistributed on 01 June 2020 to suppliers in proportion to the total mutualisation payments they are responsible for making in respect of the 2018-19 relevant period. Further details are provided in the Response Letter – Payments received after Renewables Obligation (RO) late payment deadline.
As with the buy-out and late payment funds, the amount paid to each supplier was rounded down to the nearest pound, resulting in a total redistribution amount of £38,790,996.
For more information, contact RECompliance@Ofgem.gov.uk.