Bulletin

Wind farm loophole costs households £400m

Research by the Institute for Public Policy Research claims that a loophole in wind energy subsidies could cost more than £400m if left unchecked. The IPPR points to windfarm owners limiting the output of their turbines – or derating - to take advantage of much more generous subsidies for small-scale turbines. The IPPR calculated that households, which fund wind farms via energy bills, were already committed to paying £175m in excess subsidies over the lifetime of existing derated turbines. If the loophole remains unchecked until the end of 2015, the cost could total more than £400m over the lifetime of all derated turbine projects. The Department of Energy and Climate Change admitted that it had become aware of the loophole more than two years ago but disputed the IPPR's estimates.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

 

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?