The Government's renewable energy target is that renewable energy sources will supply 10 per cent. of our electricity by 2010. The target is challenging as we are starting from a low base; provisional figures suggest that in 2003, 2 per cent. of electricity was generated from sources eligible for the Renewables Obligation. However, the target is achievable. As the SEPN annual report published earlier this week indicates, we have made an encouraging start.
We have received many representations from stakeholders regarding the targets, and we have listened to them. An example of this is our plan to increase the level of the Renewables Obligation (RO) in the period after 2010, so that it reaches 15.4 per cent. by 2015–16. By increasing the Obligation in these years, this will greatly assist investor confidence and in particular help with the financing of new projects needed to deliver output by 2010.