Just been reading how REGOs can be purchased independently from the energy they were created to certify. How then does simply basing your energy on buying REGOs actually stimulate more renewable energy generation? I quote: "…The central issue is around how renewable electricity is certified, under the regulator Ofgem’s ‘Renewable Energy Guarantee of Origin’ (REGO) scheme. REGO certificates are issued for every unit of electricity from a renewable source.
So far, so good. The thing is those certificates can be purchased independent of their origin. You don’t have to have purchased the actual energy from the generator, because there’s a market to buy the certificates on their own at a very low cost. About 15p per MWh, meaning a supplier can label an average household’s electricity supply (3.1MWh) ‘100% renewable’ with a spend of around 47p.
Does that sound like a good way to support the growth of renewable energy in the UK? We don’t think so.
It’s like a grocer paying a few pence to put an organic stamp to put on their box of veg, without actually buying the organic veg."
How does Bulb feel about this and surely if REGOs can be bought so cheaply then me choosing an energy supplier that only bases its supply on REGOs will help them to outcompete other Renewable energy suppliers who charge more because they pay a fairer price to their generators?