2015 Report details for project: FID Enabling for Renewables

Project name: FID Enabling for Renewables - there are 2 reports for this project: 2014, 2015
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Organisation: DECC (D11) - see all reports for this organisation
Report year: 2015 (data is from Sept 2014)
Category: Infrastructure - see all reports for this category
Description: The aim of Final Investment Decision (FID) Enabling for Renewables is to avert an investment hiatus in the deployment of renewable electricity generation caused by the announced reform of the electricity market, in the period between the publication of the EMR White Paper and the full implementation of the EMR Contracts for Difference (CfD).
DCA (RAG): Amber
DCA text: State aid approval was secured for the five offshore wind projects in July 2014 and the dedicated biomass with combined heat and power (CHP) project in January 2015, with discussions continuing with the Commission in relation to the two biomass conversion projects. The management of offshore wind Investment Contracts was transferred to the Low Carbon Contracts Company (LCCC) on 1 August 2014, the dedicated biomass with CHP plant transferred in February 2015.
Start date: 2012-12-17
End date: 2014-11-30
Schedule text: Start date represents the start of the project following the publication of the EMR Operational Framework in November 2012. The predicted end date represents the formal closure of the project. The schedule for the FID Enabling for Renewables project has always been dependent on progress on key elements of the enduring Electricity Market Reform (EMR) Programme, including the development and publication of the EMR Delivery Plan and the development of the CfD standard terms. Investment Contracts were awarded in April 2014.
Baseline: £1.02m
Forecast: £1.18m
Variance: 14.90%
Variance text: Project costs relate to the project team and external technical, legal and financial advisers. In Q2 2014/15 an overspend was forecast against the 2014/15 budget due to changes to the project timetable. Additional budget was sought in DECC's mid year review.
Whole Life Cost: £22,486.20m
WLCost text: The whole life cost (WLC) includes the programme's costs under the Levy Control Framework (LCF), which sets annual limits on the overall costs of all DECC’s low carbon electricity levy-funded policies until 2020/21. These comprise the Renewables Obligation, small-scale Feed-in Tariffs and Contracts for Differences (including Investment Contracts). The annual cap in 2020/21 has been set at £7.6 billion, a level which will enable us to meet our low carbon and renewables ambitions. The overall costs of all DECC’s low carbon electricity levy-funded policies has not previously been included in the published WLC of this programme, and in this case accounts for £22,481.72m of the WLC. The remainder of the WLC is costs for the policy/delivery team. The WLC figure is calculated in nominal terms.
Sourcefile: IPA_2015.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.