Northern Ireland renewable energy generators could face revenue caps

Northern Ireland's renewable energy generators could see revenues capped under a new government plan

BBC News NI Economics & Business Editor

The system of marginal pricing means that the cost of the most expensive electricity generation sets the price for the entire market.As a result renewable generators like wind farms are making unexpectedly big profits.A temporary revenue cap, which will limit the amount generators can make, is set to be introduced in the House of Commons on Wednesday as part of the Energy Prices Bill.

Business and Energy Secretary Jacob Rees-Mogg said: "Businesses and consumers across the UK should pay a fair price for energy. "We have been working with low-carbon generators to find a solution that will ensure consumers are not paying significantly more for electricity generated from renewables and nuclear."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BBCNewsNI /  🏆 95. in UK

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Four URI Students Arrested After Police Break Up Large House PartyFour University of Rhode Island students were arrested over the weekend after police broke up a large house party with up to 400 people in attendance. Police said they were called to a South Kingstown address around 6:30 p.m. Saturday for a noise complaint, WJAR-TV reports. When they got there, they found hundreds of people drinking, some of whom were…
Read more »

‘House of the Dragon’ Episode 8 Recap: Family MattersHouse of the Dragon slows down and enjoys the (awkward) silence
Read more »

House of the Dragon theory puts a dark twist on episode’s 8 big deathThe shock! The horror! The betrayal!
Read more »

5 House Races to WatchKey races in Michigan, New Hampshire, Ohio, California, and Texas will help determine if Democrats keep power in the House.
Read more »

House Of The Dragon's musical score influenced by Daemon and Rhaenyra TargaryenActress Emma D’Arcy’s Princess Rhaenyra Targaryen and Actor Matt Smith’s Prince Daemon Targaryen are the inspiration behind the House Of The Dragon score 🎼
Read more »