Energy UK has criticised proposals to impose a revenue cap on low carbon energy generators with it potentially hindering the investment that is needed to safeguard the UK’s energy security and reduce energy bills.
Shell has reported record profits in Q2 2022, as its adjusted earnings hit £9.6 billion ($11.5 billion), up from its previous high of £7.6 billion ($9.1 billion) in Q1.
A windfall tax on generators could risk future investment into energy infrastructure, impacting the transition to net zero and prolonging the UK’s reliance on volatile international gas, Energy UK has warned.
Current± caught up with the energy sector, to find out their reactions to the recent increase in support funded by a windfall tax of oil and gas companies.