UK Chancellor Jeremy Hunt is considering a new 40% windfall tax on the “excess returns” of electricity generators as part of his sprawling package of tax rises and spending cuts this week, according to a person familiar with the proposal.
UK offshore wind farm investment will be at risk if any windfall tax imposed on renewable producers is too severe, according to the head of the world’s top developer of the projects.
UK energy bosses warned that £100 billion of planned sector investment risked being undermined by a suite of new government policies which seek to cap both consumer bills and generator earnings.
Renewable energy generators have hit out at a new UK Government bill which they said would impose a “windfall tax” on the sector and “skew investment towards fossil fuels”.
