Statistics for the first year of the Feed-in Tariff scheme point to a healthy market, according to SmartestEnergy.
The company, the leading purchaser and supplier of electricity from the independent generation sector, recently emerged as the biggest payer in the first 12 months of the renewables incentive scheme. The total paid by SmartestEnergy during the first 12 months of the scheme was £1.75m, over £200,000 more than its nearest competitor.
Despite the dominance of the major utilities in the energy market, the figures show the company was responsible for almost 16% of the £11.07m paid out by all licensed suppliers since FiTs were introduced in April 2010. Robert Groves, Chief Executive of SmartestEnergy, commented: “As a champion for the independent generation sector we have enthusiastically embraced the potential of the FiTs scheme to help encourage a new generation of energy entrepreneurs.”
He added that at a time when the government is looking at major reform of the electricity market, the figures have also demonstrated that simple solutions can help to achieve government policy objectives without the need for wholesale restructuring. “Although we at SmartestEnergy broadly support the aim of the EMR of promoting renewables whilst ensuring security of supply, we believe a market-friendly approach, where appropriate, is vital to encourage investment and competition,” said Groves.
Recent FiT generation projects to come on stream with SmartestEnergy include Staples Vegetables’ anaerobic digestion plant at Boston, Lincolnshire and the Udny community wind turbine in Aberdeenshire.
For further information, visit https://www.smartestenergy.com or call +44 (0)20 7195 1050.