Electricity generators threatened with higher windfall taxes in bid to ensure stable prices

Move marks UK government’s most radical attempt to weaken impact of soaring wholesale gas prices on electricity costsClean energy generation exceeded rise in global electricity demand in 2025Electricity generators will face higher windfall taxes unless they sign up to long-term fixed-price contracts under UK government plans to protect bill payers from future gas market price shocks, as the Iran war pushes up energy prices.The Treasury will increase a windfall tax on excess profits made by electricity generators in Great Britain from 45% to 55% when gas prices spike. The funds raised will help the government to support households during an energy crisis. Continue reading...