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Business News

Body vital to renewable energy still leaderless


The Energy department has vowed to appoint the first chairman of the body dishing out subsidies for investment in renewable technology by next month.

Industry sources told The Independent that they were concerned that neither a chairman nor senior independent director had been appointed to lead a body that is vital to the biggest reform of the electricity market since privatisation.

The Contracts for Difference counterparty company will bridge the gap between the price that electricity generators expect to receive for low-carbon energy against the cost of developing the renewable technology needed to produce it.

The roles were advertised in October, but it has been speculated that there was a lack of interest – even though the chairman will be paid £120,000 for no more than two and a half days a week. The company becomes operational this summer. 

An Energy department spokeswoman said: “We are hoping to appoint a chair in February. We are expecting adverts for senior roles to go out shortly and we expect all the roles to be filled prior to the launch later this year.”