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grw_ | 1 year ago
As to whether the cause is Tory ban of onshore wind- I'm skeptical. I don't think wind is any cheaper than gas once you include the necessary energy storage capacity- especially when there is huge amounts of gas sitting under the north sea which the new Labour government is planning to ban pumping: https://www.forbes.com/sites/gauravsharma/2024/07/12/sudden-...
ZeroGravitas|1 year ago
Also, they're banning looking for new gas, the cost of which is 91% subsidised.
> The new 80% Investment Allowance will mean businesses will overall get a 91p tax saving for every £1 they invest – providing them with an additional, immediate incentive to invest. This nearly doubles the tax relief available and means the more investment a firm makes, the less tax they will pay.
https://www.gov.uk/government/publications/cost-of-living-su...