Electricity Market Reform (EMR)
The Electricity Market Reform is a significant piece of legislation in the UK aimed at transforming the electricity market to ensure a secure, affordable and low-carbon energy supply. It includes mechanisms such as Contracts for Difference (CfD) and the Capacity Market.
Renewable Obligation
The Renewable Obligation is a UK-wide support scheme for renewable electricity projects. It places an obligation on UK electricity suppliers to source a specific proportion of their electricity from renewable sources.
Feed-in Tariffs (FIT)
The Feed-in Tariffs scheme provides financial incentives for the generation of renewable electricity, including solar PV, wind, hydro and certain types of biomass. The scheme was closed to new applicants in 2019 but may still impact existing projects.
Contracts for Difference (CfD)
CfDs are long-term contracts designed to provide stable and predictable incentives for renewable energy projects. They are part of the EMR and aim to encourage investment in low-carbon electricity generation.
Climate Change Levy (CCL)
The Climate Change Levy is a tax on the use of energy in business and the public sector. It is designed to encourage energy efficiency and reduce greenhouse gas emissions.
