Campaigns

November 2025 - Changes to inflation indexation in the Renewables Obligation scheme

On 31 October 2025, the UK’s Department for Energy Security and Net Zero (“DESNZ”) published a consultation regarding potential changes to the indexation of Renewable Obligation Certificates (“ROC”) and Feed-in Tariffs (“FiT”).   

The ROC and FiT schemes were designed and introduced by the UK Government to encourage investment in renewable electricity generation by providing long-term certainty of stable inflation-linked revenues. Currently, both ROC and FiT schemes adjust payments for inflation using the Retail Price Index (“RPI”). Both are calculated using the previous year’s RPI and applied from 1 April each year. DESNZ proposes to change the current approach to indexation of the ROC and FiT schemes, by using the Consumer Price Index (CPI) instead of RPI as the basis for calculating inflation.

Proposal details 

The consultation documents are available at the following links: 

Company update 

NextEnergy Solar Fund published an RNS announcement on Tuesday 11 November 2025. The Company opposes the potential changes, because of the negative impact they would have on its Net Asset Value.  

NESF is investigating the potential impacts on its business in further detail, has highlighted its concerns to Solar Energy UK, the industry trade body, and is working with its relevant advisers to support the Company’s formal response. This will be made public in due course and will be available for review on the Company’s website.