(Montel) The UK must reform its taxation regime, including changes to the windfall tax on low carbon electricity generators, to attract private investment and ensure security of energy supply, industry association Energy UK said on Tuesday.
New renewable energy projects should be exempt from the Electricity Generator Levy (EGL), while an investment incentive should also be included to bring the tax into line with the treatment of oil and gas companies, the group said in a report.
This year, the UK government raised the levy on oil and gas companies to 35%, up from an initial 25% announced in 2022. The tax specifies…
