10/8/2022, 12:59 AM (Source: TeleTrader)
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UK to cap renewable energy revenues - report

A bill targeting revenues from renewable power could be introduced in the United Kingdom next week, the Financial Times reported. According to sources, the government's negotiations with renewable electricity generators to introduce 15-year fixed-price contracts have failed.

People familiar with the matter said the cap could be set at about £50 to £60 per megawatt hour, compared to the current cost of around £490 for a megawatt hour. Speaking for the FT, industry insiders slammed the move, stating that the government is prioritizing fossil fuel companies and "disincentivizing technologies you can build quickly to lower [energy] bills.”

Baha Breaking News (BBN) / DJ