Government to push through revenue caps for renewable generators

The Government will go full steam ahead with its plans to cap revenues renewable electricity generators can make from sky-high wholesale power prices following Russia’s invasion of Ukraine.

Downing Street had been urging electricity generators to agree voluntarily to 15-year fixed-price contract, well below current wholesale rates for their output.

However, companies generating power from wind and solar including EDF Energy, RWE, Scottish Power and SSE have been resistant to the proposals, according to The Financial Times.