Platts proposes to change roll-over date of UK Renewable Energy Guarantees of Origin

Platts, part of S&P Global Commodity Insights, proposes to change the roll-over date of UK Renewable Energy Guarantees of Origin (REGO) price assessments to July 2, effective Feb. 17, 2025.

At present, current compliance period REGOs are assessed from April 1 of the current year to March 31 of the next year, and roll the next day on April 1. For example, compliance period 2023 (CP-23) tracks REGOs of production from April 1, 2024, to March 31, 2025, and will roll to compliance period 2024 (CP-24) on April 1, 2025.

Platts proposes to change the roll date so that current compliance period REGOs are assessed from April 1 to July 1 the following year and roll the next day on July 2. For example, the current compliance period of CP-23 has been assessed from April 1 2024 and would be assessed through July 1, 2025, with Platts assessing the new current compliance period as CP-24 from July 2, 2025 to July 1, 2026, at which point it would continue to roll on July 2 of concurrent years.

This proposal follows feedback from market participants that current compliance period REGOs are traded until the Fuel Mix Disclosure (FMD) deadline at midday July 1.

Platts publishes REGO prices for three years: current compliance period REGOs (currently CP-23), compliance period+1 REGOs (currently CP-24), and compliance period+2 REGOs (currently CP-25).

Platts symbols for these assessments would not change, but the compliance period they refer to would be extended, leading CP-24 to be assessed as the current compliance period from July 2, 2025 tracking REGO production from April 1 onwards.

Each REGO represents the environmental attributes of renewable electricity and represents one megawatt hour of electricity generated from renewable sources, as certified and recorded within OFGEM's Renewable & Combined Heat Power registry.

Details about the methodology for Platts REGO assessments can be found here: Global Renewables Certificates.pdf

Please send all comments, feedback, and questions to PriceGroup@spglobal.com and global_renewables@spglobal.com by Jan. 19.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.