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

More on Energy

Global Briefing: Iberian blackouts not caused by increased reliance on renewables, report finds

Global Briefing: Iberian blackouts not caused by increased reliance on renewables, report finds

Report attributes Spain and Portugal blackouts to 'cascading overvoltages', Pope Leo hits out at climate change deniers, and Trump administration cancels $8bn for climate projects

Stuart Stone
clock 03 October 2025 • 10 min read
NESO publishes updated timetable for grid connection reforms

NESO publishes updated timetable for grid connection reforms

System operator confirms plans for new grid connection timelines to prioritise renewable projects that can support clean power by 2030 goal

clock 02 October 2025 • 3 min read
What can the UK learn from Spain breaking the 'ruinous link' between gas and power prices?

What can the UK learn from Spain breaking the 'ruinous link' between gas and power prices?

Wind and solar growth has reduced the influence of expensive gas and coal on Spain’s electricity prices by 75 per cent since 2019, new analysis finds

Stuart Stone
clock 02 October 2025 • 6 min read