The cross-party agreement includes more than 90 initiatives designed to boost growth and reduce costs for businesses.

As part of the deal the so-called PSO (Public Service Obligation) – a tariff paid by consumers on their electricity bills – will be reduced by DKr13.2bn ($2.4bn), a cut partly funded by the Kriegers Flak postponement.

The government will also reduce a planned 500MW of near-coast offshore wind projects to 400MW, while introducing a price cap on them.