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Renewable Power Still in the Crosshairs of UK Windfall Tax

  • Chancellor Sunak highlights ‘excessive’ power profits
  • Some windfarm operators delay start of subsidy mechanism
Nuclear Power Plants and Wind Farms in Normandy Amid Europe Energy Crisis
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Renewable generators are still in the crosshairs of UK government officials drawing up proposals for a windfall tax on the profits of electricity producers.

The Chancellor of the Exchequer, Rishi Sunak, said this week he’s looking at how to impose a tax on power profits and a decision could come within weeks. The Treasury is considering including clean generation within the scope of the levy because this capacity is also benefiting from high power prices, according to two people familiar with the matter.