Government proposes cap on renewable revenues
Source: The Engineer
Monday, 17 October 2022
Certain renewable energy generators face a cap on revenue with the government’s proposed Cost-Plus Revenue Limit in the new Energy Prices Bill.
The government has not set the limit but is considering ‘pre-crisis expectations for wholesale prices’, nor has it specified how long the temporary measure would be in place for in England and Wales.
According to the Department for Business, Energy and Industrial Strategy (BEIS), the limit is intended to ‘sever the link between high global gas prices and the cost of low-carbon electricity’, which has risen in line with the cost of gas due to the war in Ukraine.
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