Confidence in the UK’s Renewable Energy Guarantees of Origin (REGOs) scheme is plummeting, with prices collapsing 70% in just three months, according to Cornwall Insight’s latest Green Certificates Survey.

The average REGO price fell from £2.56 in January to just £0.77 by April for the 2024–25 Fuel Mix Disclosure period – marking six straight quarters of decline.

Surging renewable supply and softening demand are to blame, with corporates shifting towards power purchase agreements (PPAs) and growing scepticism over whether REGOs truly drive decarbonisation.

REGOs – issued by Ofgem to renewable generators for every megawatt hour (MWh) produced – are meant to show that electricity suppliers source green energy.

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