Question

To ask the Secretary of State for Energy and Climate Change, if she will hold talks with the Financial Conduct Authority on lifting the moratorium on registering new renewable energy cooperatives.

This Government strongly supports the community energy sector, including the mutual society model for community groups. However the Financial Conduct Authority (FCA) is an independent non-governmental body and it is important that the Government does not interfere with its work. The FCA recently consulted on their registration function under the Co-operative and Community Benefit Societies Act 2014 and it is working to ensure the right balance is struck between investor protection and continued growth of this form of investment. The FCA will respond to this consultation later this year.