UK moves to cap revenues of low-carbon energy producers - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 12/10/2022 01:58:00
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Britain set out plans for a temporary revenue limit on low-carbon electricity generators on Tuesday, which the government said had the potential to save billions of pounds for consumers.

The “Cost-Plus-Revenue Limit” forms part of a broader energy support package announced by the country’s new Prime Minister Liz Truss last month that included a cap on the price of average household energy bills.

Electricity prices are typically set by gas, so the measure would apply to generators that sell their power at those soaring prices but do not need to buy expensive fuel. “A price cap acting as a 100% windfall tax on renewables’ revenue above a certain level, while excess oil and gas profits are taxed at 25%, risks skewing investment towards the fossil fuels that have caused this energy crisis,” Renewable UK’s CEO Dan McGrail said in a statement.

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UK moves to cap revenues of low-carbon energy producers - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Britain set out plans for a temporary revenue limit on low-carbon electricity generators on Tuesday, which the government said had the potential to save billions of pounds for consumers.
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