windfall tax

The Government should “level the playing field” by expanding the investment allowance to the Electricity Generator Levy.

A poll commissioned by electric utility company, Community Windpower Ltd (CWL) showed that 41% of the nationally representative sample of 1,000 UK adults disagreed with the proposed increase in windfall tax for solar and other renewably generated energy.

The new windfall tax on electricity generators will not impact Atrato Onsite Energy, the company has announced.

As a result of the Autumn Statement and the introduction of the windfall tax, Bluefield Solar Income Fund has estimated that its audited NAV would have decreased by 3 pence per ordinary share (pps).

The solar sector has criticised the introduction of a windfall tax on electricity generators, which it has warned could have a ‘perverse’ impact on the sector.

Chancellor Jeremy Hunt has announced a windfall tax on electricity generators at a rate of 45%.

Market intelligence company Cornwall Insight has warned that extending the windfall tax to renewable energy companies such as solar power funds would be disproportionate to profits.

The government’s revenue cap sends a poor signal to investors in renewable energy, Solar Energy UK has said.