To ask the Secretary of State for Trade and Industry if she will make a statement on the operation of the renewables obligation certificate trading system; and if she will calculate the effect of every certificate holder being able to realise the full value by having the right to cash out. [101286]

The renewables obligation certificate trading system is working smoothly and well. The obligation is a market based mechanism and the value of certificates is established in contracts between generators and suppliers or third party traders. The terms of these contracts are a matter for the parties concerned, renewables obligation certificates are trading at a high value at present reflecting the shortage of renewables electricity in the early years of the obligation.