Renewable power executives warned the UK government that investment in new offshore wind farms is at risk because of soaring costs and the Treasury’s windfall tax. While offshore wind farms are a central plank of the UK’s climate and energy security strategies, higher input costs, rising interest rates and a windfall tax on renewable power production have upended their investment case. Those tax revenues are meant to fill a massive hole in the Treasury’s budget left by gas subsidies. Top … read more »
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