UK cuts subsidies for onshore wind 10 percent from 2013

LONDON (Reuters) - The government on Wednesday announced a 10 percent cut in subsidies for onshore wind farms, sticking to a reduction announced on October and surprising investors who had expected a steeper reduction after months of delays to the announcement.

Onshore wind projects will receive 0.9 Renewable Obligations Certificates (ROCs) per megawatt-hour generated from 2013-17, instead of 1 ROC currently given, but the level could be reviewed in 2014 if there is a significant change in generation costs, the government said.

Offshore wind subsidies will also be cut, experiencing a 5 percent reduction from 2013-2015 to 1.9 ROCs and a 10 percent cut to 1.8 ROCs in 2016/17, the government said.

(Reporting by Karolin Schaps; Editing by David Holmes)

Source: http://news.yahoo.com/uk-cuts-subsidies-onshore-wind-10-percent-2013-062426138.html

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