OVO CEO Raman Bhatia has described greenwashing as “our industry’s dirty secret” and called on energy companies to stop using misleading terms such as “100 per cent renewable tariffs” when these tariffs, and the complicated REGO (renewable energy guarantees of origin) system that sits behind them, aren’t fit for purpose.

Calling for an overthrow of the system, Bhatia notes that currently the actual energy mix that flows into consumers’ homes is the same whatever tariff they choose. Research from Cornwall Insight shows that these tariffs do little to support additional renewable energy generation into the grid.

As a result, OVO has also taken the decision to dispense with the outdated REGO system and will instead focus on wind and solar projects. The company is calling on other suppliers to now do the same and for the Government to create clear regulation and labelling so that consumers can make informed choices. OVO also wants the Government to take measures to accelerate the decoupling of electricity prices from wholesale gas.

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