open letter on fits + investor confidence(2)

8/8/2019 Open Letter on FITs + Investor Confidence(2)

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Rt Hon Danny Alexander MP

Chief Secretary to the Treasury

HM Treasury

1 Horse Guards Road

London SW1A 2HQ

Rt Hon Vince Cable MP

Secretary of State Business, Innovation and Skills

Department for Business, Innovation and Skills,

1 Victoria Street,

London SW1H OET

c.c. Rt Hon Chris Huhne MP

Secretary of State for Energy and Climate Change

3 Whitehall Place

London SW1A 2AW

30 September 2010

Dear Chief Secretary and Secretary of State

Open letter on the Spending Review, Feed-in-tariffs and Investor Confidence implications for

Climate Change and Renewable Energy Policy

Collectively our organisations have invested substantially in the emerging microgeneration

sector in the past two years, and created thousands of new, green jobs. This direct investment

and job creation is multiplied many times throughout the supply chain in the SME sector, and

has only been possible due to confidence in Government keeping a stable regulatory and policy

framework in the energy sector.

In particular, the feed-in-tariff that guarantees small scale producers of renewable and low

carbon electricity a long term fixed price for their power has given investors the confidence to

grow an industry rapidly and in line with the Governments expectations. There has been recent

press speculation that the Government may be considering the quite unprecedented step of

prematurely cutting the feed-in tariff payments prior to next years planned review of these

tariffs, the outcome of which would be due to take effect in April 2013.

Such premature adjustments to the tariff would have a profoundly damaging effect on long

term investor confidence in the clean tech and renewable energy sectors, and may cause

investors to flee altogether, thereby stifling any future investment and seriously jeopardising

this countrys ability to meet its climate change and renewable energy targets. It would

immediately destroy the value of recent investments in any company, technology or initiative


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built on the back of the feed-in-tariff policy, and it would have damaging knock-on

consequences for investment appetites against both current and future policies in the climate

change / renewable energy sectors, and possibly in many unrelated sectors as well.

Our companies are fully committed to playing their part in helping to deliver the countrys

climate change and energy policy goals which are already challenging enough. Our ability to

attract future investment to continue to do so would be put in mortal peril by such an

unprecedented and confidence shattering intervention. In short, investors simply would no

longer trust Government not to make subsequent, unpredictable interventions.

We therefore urge you to keep investors confident that this Government will maintain the

necessary regulatory stability. If it does, we can continue to play our part in delivering these

crucial environmental and industrial policy goals. Please leave feed-in-tariffs well alone, at least

until April 2013.

Yours sincerely,

with explicit permission from and on behalf of:-

Dr Paul Golby

Chief Executive

E.ON-UK plc

Lee Cottingham

Chief Executive Officer

Mark Group

Mark Kelly

Chief Executive

Baxi UK

Kevin Webster

Managing Director

Romag Ltd

Mark Bullock

Chief Executive OfficerSolar Tech Ltd

Donald Daw

Divisional Director

Mitsubishi Electric Europe

Andrew Hillier

Chief Executive

Ice Energy

Carl Arntzen

Director

Bosch Thermotechnology

Peter Bance


Ceres Power Holdings Plc

Peter Thiele

Executive Vice President

Sharp Energy Solution

Cameron Holroyd

Managing DirectorKingspan Renewables

Jeremy Leggett

Executive Chairman

Solar Century Holdings Ltd

Barry Johnston

Managing Director

Solar Twin Ltd

Kelvin Stevens

Managing Director

PTS, BSS Group

Peter Rolton


Rolton Group


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Juliet Davenport

Founder & CEO

Good Energy Ltd

John Blower

Managing DirectorFilsol Solar Ltd

John Seed

Managing Director

Overdahl UK Ltd

Philip Wolfe

Chairman

Ownergy plc

Peter Randall

Managing Director

Ecovision Systems Ltd

Daniel Green


HomeSun Ltd

James Stoney

Managing Director

Next Generation Turbines Ltd

Kate Sizer

VP + MD of Europe

Southwest Windpower

David Moriarty

Managing Director

Whisper Tech Ltd

Matthew RhodesManaging Director

Encraft Ltd

James Hoare

Managing Director

Ardenham Energy Ltd

Stephen Rennie

Managing Director

Calor Gas Ltd

Mark Shorrock

Chief Executive OfficerLow Carbon Solar Partners Ltd

Howard Johns

Managing Director

Southern Solar Ltd

Colin Mallett


Trusted Renewables Ltd

Mark Dickinson

Managing Director

Energi Plc

Geoff Fox

Managing Director

Solar UK Ltd

Fred Best

Technical Director

EIS Group Ltd

Gary Hills

Managing Director

Fronius UK Ltd

Gary Burgess

Director

Enerlux Ltd

Mark KrullDirector

Logic Certification Ltd

Akta Raja

Executive Director

Green Tomato Energy Ltd

Julian Ghail

Director

Flamefix Ltd

Ian Hornblow

Managing DirectorEcohouse Solar

Mo Kelly

Managing Director

SASIE Ltd

Anna Casswell

Director

Plumb Solar Ltd

George Robinson

Director

Advance Heating

David Maloney

Director

Elfsec Ltd

Philip Rees

Managing Director

Solar FIT

Andy Barrett

Director

Eco-Exmoor Ltd

Robin Welling

Managing Director

TiSUNGmbH

Kaz MorrisManaging Director

Aran Services Ltd

Julie Walker

Managing Director

Sevenoaks Energy Academy Ltd


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Adrian Hutchings


Energetix Group Plc

Andrew Hodchild

Managing DirectorEco Heat & Power Ltd

Marc Von Briel

Managing Director

Schueco UK Ltd.

Martin Dowd

Managing Director

MG Renewables Ltd

Stephen Thornton

Chairman

Alectron Investments Ltd

Martin Cotterell

Managing Director

Sundog Energy Ltd

Kevin Hard

Managing Director

Evo Energy Ltd

Dave Samuel

Technical Director

Leading Edge Turbines Ltd

Bruce Davis

Managing Director

Eternal Energy Systems Ltd

John MeadowsManaging Director

Schott UK Ltd

Emma McCarthy

Chief Operating Officer

NICEIC

Tristan Fischer

Chief Executive Office

Lumicity Ltd

Stephen Barratt

DirectorSolar Sense UK Ltd

Geoff Fox

Managing Director

Solar UK

Jim Kenney

Managing Director

Chelsfield Solar

open letter on fits + investor confidence(2)

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