electricity generator levy

UK government raises levy on gas-linked power to cut household energy bills

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UK government raises levy on gas-linked power to cut household energy bills

The UK government announced plans to raise the Electricity Generator Levy from 45% to 55% and offer long-term fixed-price contracts to older renewable energy projects as part of a broader effort to shield households from gas price volatility. The move comes amid ongoing instability in the Middle East, which has renewed concerns about the impact … Read more

Government to Increase Windfall Tax on Low-Carbon Power to Lower Energy Bills

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Government to Increase Windfall Tax on Low-Carbon Power to Lower Energy Bills

Chancellor Rachel Reeves is preparing to raise the windfall tax on low-carbon electricity generators to help curb household energy bills, according to the Guardian, with plans to announce the increase as early as Tuesday alongside broader reforms to decouple electricity pricing from gas market volatility. The proposed hike targets the electricity generator levy, which currently … Read more