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Govt appeal over feed-in-tariffs fails

The Government has failed in its bid to get permission to appeal to the Supreme Court over a High Court ruling which deemed its decision to lower solar feed-in-tariffs was illegal.

In November, the Government announced it was bringing forward the date for its reduction in feed-in tariffs to December 12, 2011,  rather than in April 2012 as previously planned and 11 days before the consultation ended on December 23. Friends of the Earth argued this change with little notice was unlawful.

The High Court deemed the ruling was illegal in January only for Government to announce it was to make a formal appeal one week later.

Under the proposals, solar panels installed after December 12 last year would have received reduced Fit payments. For new residential units up to the 4kw band, the rate was cut from 43.3p per kw to 21p per kw.

The plans led to some EIS and VCTs withdrawing offerings or considering changes to product mandates.

The decision to reject the appeal means that any installations built from April 1, 2012, will receive the lower feed-in-tariff rate. All domestic installations finished before  March 3 this year will still get the higher 43.3p rate, while those finished between March 3 and March 31, will receive the higher rate until April 1, then it is reduced to 21p.


Insurers secure critical ‘matching premium’ Solvency II amendment

Insurers and UK politicians have secured a last ditch amendment to Solvency II rules which could prevent a 20 per cent drop in annuity rates. There had been concern that measures put forward by the ECON committee of the European Parliament would not contain reference to a so-called ‘matching premium’. The ABI says the premium […]

Witan wins back global trust losses

Multi-manager investment trust Witan has returned more in the first few months of this year than it lost in 2011. The trust’s net asset value total return for last year fell by 10.9 per cent – 3.9 per cent lower than its global composite benchmark. This underperformance was due to the trust’s positioning, which reflected […]

Clougherty leaves Aviva amid business shake-up and job losses

Aviva Investors chief executive of UK funds John Clougherty has left the firm amid a shakeup of the business and widespread job cuts. This week, revealed that Clougherty, who joined Aviva Investors in June 2005, had gone on gardening leave. He has beenreplaced on an interim basis by chief operating officer of the UK […]


Budget 12: Thinktank backs Osborne’s “granny tax”

The IPPR’s analysis of the policy finds that on average it will cost pensioners around £220 a year by April 2016. The richest 20 per cent of pensioners will not be affected because they have an income of over £24,000 and so do not benefit from the age related allowance. Those in the second richest […]

UK gilts: Shaken and stirred

Mike Riddell, fixed income portfolio manager at Allianz Global Investors, reviews the performance of the UK government bonds market post-Brexit and assesses its future prospects, as well as giving his outlook for global fixed income markets and yields movements. In addition, he provides a brief analysis of the impact of Brexit and the Bank of […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. The 43.3p rate is going up to 45.4p in April 2012, as it is RPI-linked. The 21p rate will not rise.

  2. It seem pretty clear that DECC never had any hope in winning any of these appeals, and nor did they care. They simply wanted to create enough uncertainty to significantly reduce rate of domestic installations, thus saving large amounts in FiT payments.

    This now done, I’m sure that we’ll see DECC calmly accept this ruling.

    While their motives are understandable, this is verging on Banana Republic tactics.

    Get more information and comment at

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