Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the amount of the financial reserves held under the Microgeneration Certification Scheme; and what plans he has for the use of those reserves.

The latest verified accounts for the MCS Service Company are published on the Companies House website. This states that as of 29 February 2016 there was £6,794,171 held in the account on behalf of the Secretary of State (of the Department for Energy and Climate Change; now the Department of Business, Energy and Industrial Strategy). At that time there was also £1,895,623 held in Escrow.

The MCS Service Company has the right to use funds drawn from the account in relation to the day to day activities of the Company. Negotiations are currently taking place for the Scheme to be transferred to the MCS Charitable Foundation, at which point the reserves will be the responsibility of the MCS Charitable Foundation.