The UK power industry escaped – at least for now – a government windfall tax on energy profits that some feared would drag the wind sector into a raid on booming oil & gas revenues.

Britain’s finance minister, chancellor of the exchequer Rishi Sunak, announced a temporary 25% levy on oil & gas profits estimated to be worth £5bn ($6.3bn) to help finance a programme of relief for energy consumers, in a move that was criticised for incentivising fossil investments.