Cap the profits of wind and solar but get the tax payer to subsidise the profits of oil and gas? I think we’ve reached peak Tory.
And yet the fossil fuel companies are allowed profits so obscene that even they have started to say they need taxed more.
Also, aren’t the Tories the part of free enterprise and capitalism? Limiting profits sounds a bit *socialist* to me. Imagine the chaos if we had a socialist government!
Finally, this seems to be more q symptom of how prices are set. Maybe that needs fixed?
Maybe, just *maybe*, if this money was hypothecated and used as additional money to invest in storage I might be able to support the idea. But it won’t be.
It’ll be used to try and plug the financial black holes created by gross Tory incompetence and outright corruption.
*Business and Energy Secretary Jacob Rees-Mogg said: “Businesses and consumers across the UK should pay a fair price for energy.*
What a surprise (not) that the Victorian workhouse-loving twat is behind this.
Is this government fucking deluded..
We need to promote and make renewables as investor friendly as possible, it should be able to have unlimited earning potential…the government want a windfall tax on the side of the industry that is now cheap and isn’t destroying the environment.
This government fucking deluded.
An alternative headline is “UK government copy EU plan”. And even then the whole article is somewhat misleading. There’s already a price-cap (sorry, “agreed value”, not a price-cap) on renewables that were installed in the last few years (can’t find the date it started, but I’ve got 2015 in my head). What the government want to do is extend that to cover older plants. And even then, they’re just copying an idea that the EU is working towards – and we have to too, because of the interconnected nature of our grid and Europe, would be bonkers if we allowed a vastly different price to the EU because they capped and we didn’t (or vice-versa).
Currently the electricity market in the UK and Europe is broken. The price isn’t being set by competition between generators (which was the original idea), instead it’s set by the highest cost producer because across the whole EU we’ve got too much reliance on gas which was cheap and now isn’t.
Before gas rose in price, and electricity was cheap, renewable generators were begging for (and getting) subsidies from governments. Now the price is high, governments want their money back and these generators are complaining.
It’s not a Tory issue, it’s not even a UK issue, it’s an EU-wide issue with greedy companies who want bailing out in their bad times but refuse to give anything back in their good times.
This is just fucked.
It’s got to the point with this government I just don’t know what to say anymore.
And I’m a barber. I talk all day.
Evidence? Source? Proof?
There’s none provided. This sub is becoming a circle jerk of lies for karma farming reasons.
Alright – is this revenues? or profits? Or is it a stupid article ?
What?
This cannot be as bad as it sounds.
But. Tory.
Stop subsidising oil you fucking fucks, invest in renewable energy and stop disincentivising others from doing so
– on behalf of everyone that isn’t in the pocket of Big Oil
This is fine, its not an anti green energy policy, these companies are making large unexpected profits as their selling rate is tied to gas. The plan is to tax the profits over a certain level so its just a windfall tax. Hopefully that will be put on in a way that enables reinvestment in more green energy, but we are talking about the tories here, it’ll probably end as dividends
The better thing to do, but I have no idea how hard it would be is to decouple renewable electricity selling price from gas produced electricity selling price so we as consumers dont need to pay an artificially high price for it just to be recouped as tax.
Wtf is going on?????? Not a single revenue cap or tax measure for oil and gas but we’re capping solar energy? Wtf
It’s what their donors want so you can expect some MPs in DEFRA to get some donations come the next election, along with a tasty job should they lose their seat. You just have to follow the money to understand the policies we are now seeing.
If I had to trolley problem the entire Tory government I’d find a way to stick the thing in reverse and do donuts on them.
More proof the world is being run by oil and gas companies.
Can anyone ELI5 how this works and what the proposed benefits are, as opposed to alternative ideas?
I’ve read the article and it appears that Labour are largely in favour of this (they’re calling it the windfall tax that the Tories have been trying to avoid), and the EU are also proposing similar ideas overseas, so this doesn’t strike me as another “corrupt Tories being corrupt” situation.
I’m only one coffee in…
Sounds like this government are part of the anti-growth coalition
This government is NOT deluded. This is not stupidity, it is malice. All tories are bought and paid for by a coalition of fossil fuel providers. This is known. VOTE.
It’s like the government are playing a game where whoever does the most opposite to the sensible thing wins.
While the public lose.
Shadow energy secretary Ed Miliband welcomed the decision to introduce the cap, but said the government was “essentially doing a windfall tax” after Labour had called for it months earlier.
Every day I wish more and more to have had that chaos with Ed Milliband than this ‘strong and stable’ government.
How much more blisteringly obvious does she have to make it? She serves the hyper rich at the expense of us all and still, STILL people would vote for her in a GE. Fuck the environment, fuck the poor, fuck progress, fuck working people, fuck disabled people, fuck the lot of us! As long as her and her friends can be wealthy she doesn’t give a rats arse. Wealth doesn’t trickle down, but shit does.
It’s brilliant, isn’t it? A deliberate backward step to hamper the technologies which must logically represent our future, because they’re worried it’ll make people who own all of the old technologies less rich.
23 comments
Cap the profits of wind and solar but get the tax payer to subsidise the profits of oil and gas? I think we’ve reached peak Tory.
And yet the fossil fuel companies are allowed profits so obscene that even they have started to say they need taxed more.
Also, aren’t the Tories the part of free enterprise and capitalism? Limiting profits sounds a bit *socialist* to me. Imagine the chaos if we had a socialist government!
Finally, this seems to be more q symptom of how prices are set. Maybe that needs fixed?
Maybe, just *maybe*, if this money was hypothecated and used as additional money to invest in storage I might be able to support the idea. But it won’t be.
It’ll be used to try and plug the financial black holes created by gross Tory incompetence and outright corruption.
*Business and Energy Secretary Jacob Rees-Mogg said: “Businesses and consumers across the UK should pay a fair price for energy.*
What a surprise (not) that the Victorian workhouse-loving twat is behind this.
Is this government fucking deluded..
We need to promote and make renewables as investor friendly as possible, it should be able to have unlimited earning potential…the government want a windfall tax on the side of the industry that is now cheap and isn’t destroying the environment.
This government fucking deluded.
An alternative headline is “UK government copy EU plan”. And even then the whole article is somewhat misleading. There’s already a price-cap (sorry, “agreed value”, not a price-cap) on renewables that were installed in the last few years (can’t find the date it started, but I’ve got 2015 in my head). What the government want to do is extend that to cover older plants. And even then, they’re just copying an idea that the EU is working towards – and we have to too, because of the interconnected nature of our grid and Europe, would be bonkers if we allowed a vastly different price to the EU because they capped and we didn’t (or vice-versa).
Currently the electricity market in the UK and Europe is broken. The price isn’t being set by competition between generators (which was the original idea), instead it’s set by the highest cost producer because across the whole EU we’ve got too much reliance on gas which was cheap and now isn’t.
Before gas rose in price, and electricity was cheap, renewable generators were begging for (and getting) subsidies from governments. Now the price is high, governments want their money back and these generators are complaining.
It’s not a Tory issue, it’s not even a UK issue, it’s an EU-wide issue with greedy companies who want bailing out in their bad times but refuse to give anything back in their good times.
This is just fucked.
It’s got to the point with this government I just don’t know what to say anymore.
And I’m a barber. I talk all day.
Evidence? Source? Proof?
There’s none provided. This sub is becoming a circle jerk of lies for karma farming reasons.
Alright – is this revenues? or profits? Or is it a stupid article ?
What?
This cannot be as bad as it sounds.
But. Tory.
Stop subsidising oil you fucking fucks, invest in renewable energy and stop disincentivising others from doing so
– on behalf of everyone that isn’t in the pocket of Big Oil
This is fine, its not an anti green energy policy, these companies are making large unexpected profits as their selling rate is tied to gas. The plan is to tax the profits over a certain level so its just a windfall tax. Hopefully that will be put on in a way that enables reinvestment in more green energy, but we are talking about the tories here, it’ll probably end as dividends
The better thing to do, but I have no idea how hard it would be is to decouple renewable electricity selling price from gas produced electricity selling price so we as consumers dont need to pay an artificially high price for it just to be recouped as tax.
Wtf is going on?????? Not a single revenue cap or tax measure for oil and gas but we’re capping solar energy? Wtf
It’s what their donors want so you can expect some MPs in DEFRA to get some donations come the next election, along with a tasty job should they lose their seat. You just have to follow the money to understand the policies we are now seeing.
If I had to trolley problem the entire Tory government I’d find a way to stick the thing in reverse and do donuts on them.
More proof the world is being run by oil and gas companies.
Can anyone ELI5 how this works and what the proposed benefits are, as opposed to alternative ideas?
I’ve read the article and it appears that Labour are largely in favour of this (they’re calling it the windfall tax that the Tories have been trying to avoid), and the EU are also proposing similar ideas overseas, so this doesn’t strike me as another “corrupt Tories being corrupt” situation.
I’m only one coffee in…
Sounds like this government are part of the anti-growth coalition
This government is NOT deluded. This is not stupidity, it is malice. All tories are bought and paid for by a coalition of fossil fuel providers. This is known. VOTE.
It’s like the government are playing a game where whoever does the most opposite to the sensible thing wins.
While the public lose.
Shadow energy secretary Ed Miliband welcomed the decision to introduce the cap, but said the government was “essentially doing a windfall tax” after Labour had called for it months earlier.
Every day I wish more and more to have had that chaos with Ed Milliband than this ‘strong and stable’ government.
How much more blisteringly obvious does she have to make it? She serves the hyper rich at the expense of us all and still, STILL people would vote for her in a GE. Fuck the environment, fuck the poor, fuck progress, fuck working people, fuck disabled people, fuck the lot of us! As long as her and her friends can be wealthy she doesn’t give a rats arse. Wealth doesn’t trickle down, but shit does.
It’s brilliant, isn’t it? A deliberate backward step to hamper the technologies which must logically represent our future, because they’re worried it’ll make people who own all of the old technologies less rich.