These propsals fall far short of the policy required to secure the huge private investments necessary to deliver the 2020 renewables target. The Government should guarantee banded Renewables Obligation Certificate rates (which pay up to two certificates per megawatt) to continue for the life of the obligation.
Upward only reviews should be provided if biomass feedstock prices rise faster than electricity prices. Downward reviews should only apply to new generators, who also need a band of guaranteed payments for the life of the Obligation - with upward only reviews.
Only in this way can investor confidence, hard hit in December last year, be restored.