The House of Commons Public Accounts Committee (PAC) said awarding £16.6bn ($28.2bn) of contracts under the Final Investment Decision Enabling (FIDE) programme failed to properly safeguard the interests of consumers and taxpayers.
Instead DECC caved in to developer demands over index-linking of CfD strike prices, failed to include a “claw-back” provision in the event of excessive profits, and paid too much heed to warnings from the renewables sector that projects could become “univenstable”, the PAC said in its report.
It
