Ministers ‘wrestling’ to prevent revenue cap from undermining investment

The government is “wrestling” to make sure its plans to cap the windfall revenues being captured by low-carbon generators on the back of massively increased gas prices do not undermine future investment, the climate minister has said. Giving evidence to the House of Commons Environmental Audit Committee, Graham Stuart said the objective of the Energy Prices Bill introduced to Parliament on Wednesday (12 October) is to ensure “no firms" should “unduly” profit from the Russian invasion of Ukraine at the “expense” of UK consumers.

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