To ask the Secretary of State for Energy and Climate Change, what assessment he has made of the effect of recent decisions by the Financial Conduct Authority on the registration of new renewable energy cooperatives on his policy of increasing the number of community energy groups and energy cooperatives; how many applications for new energy cooperatives have been (a) rejected and (b) accepted in 2014; and if he will make a statement.
24 November 2014
The Government is committed to supporting the growth of the community energy sector. DECC is working with community energy stakeholders and the FCA to ensure the right balance is struck between consumer/ investor protection and realising the full potential of community energy.
The FCA has registered 220 co-operatives and community benefit societies (of all types of business, not just community energy projects) as of 19 November this year. It has rejected approximately 50 co-operatives and community benefit society applications. The FCA does not keep details of the specific purpose of applicant co-operatives and community benefit societies.