Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to Annex A of the Explanatory Notes to the Energy Prices Bill, published on 12 October 2022, what assessment he has made of the potential impact of the cost-plus revenue limit facility on (a) private and (b) public sector investment in renewable energy.

The mechanics of the temporary Cost-Plus Revenue Limit will be subject to a consultation to be launched shortly, with final details to be announced and an Impact Assessment conducted ahead of regulations coming into force from the start of 2023. The Government will set a price that is fair for consumers, taxpayers and industry, recognising the need to ensure the design reflects generators’ investment commitment and risk. Under the scheme, generators will retain entitlements under the Renewables Obligation and Capacity Market.