Wind farms hit with profit cap to bring down soaring bills
The TelegraphWind farms will be blocked from boosting their profits on the back of the energy crisis as part of emergency measures to bring down household bills. The move to cap wind farm profitability comes after soaring energy costs over the last year forced the Government to step in and subsidise household and business's energy bills, at an estimated cost of £60bn over the next six months. It follows similar measures in the European Union, which last week set out plans to cap wind farms’ revenue at less than half the current prices. “This is all part of the plan to shield families and businesses from the effect of Putin’s war in Ukraine and help them through these difficult times.” Politicians are intervening amid concerns that renewable generators are making excess profits due to the turmoil in gas markets, which is at the heart of the current crisis.
History of this topic
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Energy bill talks continue and a price cap is up for discussion, minister confirms
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