DfE – Review of Rates of Return for Renewable Electricity Generators Accredited under the Northern Ireland Renewables Obligation (NIRO) - (ID 3885459)

In October 2020 the NIAO published its report entitled “Generating electricity from renewable energy”. The report advises, inter-alia, that, in the NIAO view, the financial return for some investors may have been more generous than it needed to be. The report also made six recommendations, three of which are relevant to DfE, including Recommendation 6 below: Recommendation 6 ‘The Department for the Economy should carry out a review of all types of renewable generators to ensure that current levels of financial support and the actual rates of return that are being achieved are compatible with the original projections and State Aid rules.’ DfE is seeking to appoint an external provider to undertake an exercise to meet the requirements of delivering Recommendation 6 of the NIAO report. A potential provider will need to be in a position to obtain and analyse data on the actual costs and revenues of renewable electricity generating stations, accredited to the NIRO, to enable accurate rates of return to be calculated across all relevant technologies. The contract is expected to commence upon award.