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