Reports: Expansion of windfall tax expected to hit clean energy profits

Cecilia Keating
clock • 3 min read
Hunt and Sunak discuss the upcoming fiscal event | Credit: Number 10 Flickr
Image:

Hunt and Sunak discuss the upcoming fiscal event | Credit: Number 10 Flickr

PM and Chancellor reportedly intend to extend Energy Profits Levy to solar, wind, and nuclear generators as part of plans to increase rate on oil and gas firms

The Prime Minister and Chancellor are set to press ahead with a windfall tax on renewable energy generators, as they finalise plans to plug a portion of the UK's fiscal deficit by increasing taxes on the...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Cecilia Keating
Author spotlight

Cecilia Keating

View profile
More from Cecilia Keating

We need the transition to a low-carbon economy to reverse historic injustices

Why the Women in Green Business Awards is more important than ever

More on Energy

How can companies best navigate the era of energy market volatility?
Energy

How can companies best navigate the era of energy market volatility?

BusinessGreen's latest webinar explored how businesses are responding to rising costs, constant policy shifts, and evolving Scope 2 reporting requirements by developing more flexible and sophisticated energy sourcing strategies

Stuart Stone
Stuart Stone
clock 13 May 2026 • 10 min read
ScottishPower's Kate McGeoch: 'We need more technologies to normalise sustainability at scale'
Energy

ScottishPower's Kate McGeoch: 'We need more technologies to normalise sustainability at scale'

ScottishPower's senior environmental manager, Kate McGeoch, reflects on how a non-linear career path has prepared her for the 'breadth and uncertainty' of working in sustainability

Stuart Stone
Stuart Stone
clock 13 May 2026 • 8 min read
'Raising the bar': Ofgem and Innovate UK set priorities for £500m investment programme
Energy

'Raising the bar': Ofgem and Innovate UK set priorities for £500m investment programme

RIIO-3 innovation funding to focus on accelerating industrial and business grid connections and enabling plug-and-play for domestic clean technologies

Stuart Stone
Stuart Stone
clock 13 May 2026 • 3 min read