Rachel Reeves to raise windfall tax on low-carbon electricity generators

Chancellor aims to curb rising household bills as she consults on reforms to weaken link between gas and electricity pricesRachel Reeves is poised to raise the government’s windfall tax on low-carbon electricity generators to help limit UK household energy bills, the Guardian understands.The chancellor is ready to hike the levy introduced in 2022 to target the excess profits made by the owners of older renewable energy and nuclear plants as electricity market prices soared after Russia’s full-scale invasion of Ukraine. Continue reading...