Written question asked by Lord Taylor of Warwick (Non-affiliated) on Wednesday, 12 October 2022, in the House of Lords. It was due for an answer on Wednesday, 26 October 2022. It was answered by Lord Callanan (Conservative) on Wednesday, 26 October 2022 on behalf of the Department for Business, Energy and Industrial Strategy.
Renewable Energy: Profits
- Question
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To ask His Majesty's Government what steps they are taking to ensure the planned cap on renewable energy revenues does not deter investment into the UK.
- Answer
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Renewable electricity generation will be key to securing more low-cost homegrown energy. The Government will support investment in the sector through the UK’s flagship scheme for low carbon generation (Contracts for Difference) which from next year will move to annual auctions. This will help further accelerate the deployment of clean, low-cost generation.
The precise mechanics of the temporary Cost-Plus Revenue Limit will be subject to a consultation to be launched shortly, enabling those affected to share their views. The measure will allow generators to cover their costs and receive an appropriate revenue that reflects their operational output, investment commitment and risk profile.
Secondary information
- Type
- Written question
- Reference
- HL2569
- Session
- 2022-23
- Subjects
- Profits Renewable energy Foreign investment in UK
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2022-10-26 18:23:14 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL2569
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL2569
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL2569