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Miliband to wipe out energy debt of poorest households in Iran bailout
The plan includes a windfall tax on older renewables and moves to cut gas-linked pricing, with savings expected within 12 months.
- On Tuesday, Energy Secretary Ed Miliband and Chancellor Rachel Reeves announced measures to de-link electricity prices from gas, declaring the "era of fossil fuels over" to lower consumer bills amid rising energy costs.
- To decouple prices, the government will impose a windfall tax on renewables built between 2002 and 2017, moving them onto the fixed-price Contracts for Difference system to reduce market volatility and secure investor confidence.
- Miliband also unveiled demand-side reforms including expanding renewables on public land and simplifying switches to electric vehicles. Sam Alvis, Director of Energy and Environment at the Institute for Public Policy, stated, "the best way to stop gas influencing our electricity prices is to build enough renewables."
- Insiders suggest the policy future-proofs clean power against potential changes by a Reform government after 2029. However, SNP Westminster Leader Stephen Flynn criticized the plan, noting Miliband previously promised to reduce bills by £300 and urging voter skepticism.
- Scottish Conservative energy spokesperson Douglas Lumsden argued the strategy ignores energy security, claiming the drilling ban costs 1,000 jobs monthly. Russell Borthwick of the Grampian Chamber of Commerce added that oil and gas still accounts for more than 70 per cent of UK energy needs.
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Total News Sources8
Leaning Left2Leaning Right3Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 33%
C 17%
R 50%
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