Alarm bells are ringing in the UK renewable energy industry after the country’s government signalled there will be no new money for projects until 2025, with most sectors in the deep freeze as far as taxpayer support is concerned.
While Britain will honour all its existing commitments – including the £557m ($741m) earmarked for a contract-for-difference (CfD) support auction in 2019 – finance minister Philip Hammond said no extra levies to support low-carbon development are foreseen until the “burden of costs” of arrangements already in place starts to ease, which isn’t expected until the middle of the next decade.
