Apparently the intended purpose of these auctions is to keep energy prices high, which is just completely disgusting to me. Capitalism is holding back so much progress.
this post was submitted on 17 Aug 2023
23 points (100.0% liked)
United Kingdom
4077 readers
288 users here now
General community for news/discussion in the UK.
Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.
Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.
Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.
Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.
If you think "reputable news source" needs some definition, by all means start a meta thread.
Posts should be manually submitted, not by bot. Link titles should not be editorialised.
Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.
founded 1 year ago
MODERATORS
This is the best summary I could come up with:
New offshore windfarms will be strangled by government red tape, costing UK billpayers £1.5bn a year, an analysis has found.
The latest government auction for new offshore windfarms, due to be completed in September, could result in few projects making it through Treasury rules, according to the Energy and Climate Intelligence Unit (ECIU), a non-profit organisation.
Rules set by the Treasury do not take account of predictions that the gas price will stay high and put an arbitrary limit on the number of farms that can be contracted.
Energy experts have criticised the government for giving tax breaks to oil companies and not allowing windfarms to thrive.
Jess Ralston, an energy analyst at the ECIU, said: “The government seems to be focused on North Sea gas licences and tax breaks for oil companies that won’t bring down bills, while tying up offshore wind farms that generate electricity cheaper than gas in red tape.
A spokesperson for the Department for Energy Security and Net Zero said: “We do not recognise these figures – last year’s Contracts for Difference scheme auction was the largest ever, issuing contracts to nearly 100 clean tech projects, and we increased this year’s budget to reflect the large volume of eligible applications received.
I'm a bot and I'm open source!