OVO Energy has called out the use of Renewable Energy Guarantees of Origin certificates (REGOs) as greenwashing as it abandons the scheme in favour of a new system of tariffs which will directly support renewable energy and decarbonisation.
Raman Bhatia, the CEO of OVO, will today outline a new path to “get the UK’s net zero mission back on track” including a new customer plan and kitemarking system alongside the removal of REGOs.
To tackle greenwashing energy tariffs and accelerate the decarbonisation of the power system, carbon should be tracked through the electricity system in real time.
The Department for Business, Energy and Industrial Strategy (BEIS) is to explore new options to tackle greenwashing amid concerns suppliers could be exaggerating the environmental benefits of their green tariffs.
Renewable Energy Guarantee of Origin (REGO) prices have jumped 50% higher than they were in January 2021, as market sentiment remains broadly positive.
ScottishPower and Good Energy are calling for regulatory reforms to close what they have labelled as “loopholes” in the energy retail market that allow for greenwashing.
E.On Next is launching two new tariffs designed to be climate friendly, one focused on electric vehicles (EVs) and one offering the perk of tree planting.
