Jurisdiction(s):
United Kingdom

Key definition

Renewables Obligation definition

What does Renewables Obligation mean? In practice, the Renewables Obligation is the UK scheme under which licensed electricity suppliers must source a proportion of their supply from renewable generation, evidenced by Renewables Obligation Certificates (ROCs). Accredited generators earn ROCs per MWh; suppliers comply by presenting ROCs or paying a statutory buy‑out price. The buy‑out fund is recycled to compliant suppliers, underpinning ROC value. Support levels are “banded” by technology. The regime is set out in secondary legislation (Renewables Obligation Orders) made under the Electricity Act 1989 in Great Britain, with a separate but aligned Northern Ireland Renewables Obligation (NIRO). The scheme closed to most new generating...

A practical overview of the ROC Trading Master Agreement (ROCTMA): market context, structure, elections and key provisions on confirmations, transfer, payment, termination, liability, change in law and dispute resolution

Published by a LexisNexis Energy expert

Practice notes

What is a ROCTMA?

In the UK, Renewables Obligation Certificates (ROCs) are traded bilaterally, and there is no mandatory template for such transactions. Nevertheless, the ROC Trading Master Agreement (ROCTMA) has become the recognised standard form for documenting bilateral ROC sale and purchase arrangements, and is widely used by renewable electricity generators, electricity suppliers and ROC traders.

A copy of the ROCTMA, published in March 2005 by the Futures and Options Association (now known as the FIA, which originally stood for Futures Industry Association), is available to the public on the FIA website under Renewables Obligation Certificate Trading Master Agreement.

Although the Renewables Obligation has closed to new projects, ROCs will continue to be issued until a fixed price certificate (FPC) scheme is introduced, which is anticipated to launch on 1 April 2027 (see government consultation: Transition from the Renewables Obligation to Contracts for Difference). On 31 July 2023, the government issued a call for evidence, which reiterates the rationale for moving to an FPC model in 2027.

What are the alternatives to a ROCTMA?

As noted above, there is no prescribed...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

James Stanier

Gowling WLG

James Stanier is a specialist energy lawyer who advises clients on a wide range of complex commercial and regulatory matters. James advises market leading offtakers, major utilities, energy traders, suppliers, network owners and operators, developers and managers of industry codes. James frequently advises on commercial agreements in the energy sector, having a particular specialism in power purchase agreements (PPAs) and heat supply arrangements. He has drafted and negotiated PPAs for a significant proportion of GB's largest renewable projects. Additionally, he has expertise in energy trading documentation - including GTMAs, ISDAs, EFETs, NBPs, master agreements and associated credit support documents. James has worked in the energy sector throughout his legal career. He counts himself as very lucky to be able to work in a sector which he is passionate about and thrives on providing innovative and technical legal advice in a constantly developing and fast moving...

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...