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U.K. Seen Hurting Consumers With Renewable Energy Deals

The U.K. government didn’t get the best deal for consumers when it awarded 16.6 billion pounds ($26.8 billion) worth of clean-energy contracts, according to a parliamentary committee.

By awarding them early, and using more than half the budget for the contracts in the process, the government has hampered price competition, reduced the opportunity to test the market and failed to defend consumer interests, the Committee of Public Accounts said. The beneficiaries include Drax Group Plc, Dong Energy A/S, SSE Plc, Statoil ASA and Statkraft AS.