UK to Offer Wind Developers Significantly Higher Electricity Prices ...Middle East

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The UK government will boost its offer for electricity produced from wind farms by 66% at its next renewable energy auction. The move comes as wind developers complain of higher costs, higher interest rates, and low prices that the government is willing to offer for their electricity. “We recognise that there have been global challenges in this sector and our new annual auction allows us to reflect this,” Energy Security Secretary Claire Coutinho said, as quoted by Reuters. “This is a vital part of our plan to have enough homegrown…

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