A clear majority of Europe’s wind farms are operating on a basis that gives them no bonanza from current sky-high electricity prices, said the CEO of industry body WindEurope as the EU considers emergency moves to cap renewable power revenues.

Giles Dickson warned that many policymakers have made an “instinctive assumption” that fuel-free renewables generators were enjoying a huge windfall on the back of soaring gas prices that currently dictate the market.

“We have to explain to them that most are not,” said the WindEurope chief as he cautioned against any moves that could damage investor confidence and throw the EU's clean energy plans off course.