Part ownership of a Ripple Wind Turbine, fancy it?

[nowty]

Anyone hear the comment on R4 this morning that if there is to be a windfall tax on the fossil fuel [extracting] companies then it should be applied to renewables too? Could give us a back-dated liability...
A

Its all over the press this morning.

All my UK renewable investments down circa 5% this morning on the news, but my two energy storage investments Grid and GSF are unchanged. Although they don't seem to be classed as "energy generators", they too have been benefited from increased electricity prices.

From FT this morning,

"Chancellor Rishi Sunak has ordered officials to draw up plans for a possible windfall tax on more than £10bn of excess profits by electricity generators, including wind farm operators, on top of a hit on North Sea oil and gas producers.

Treasury officials are working on a scheme that would go well beyond Labour’s original windfall tax plan, as Sunak looks to raise billions of pounds of financial support for households struggling with soaring energy bills.

“North Sea oil and gas producers are only half the picture,” said one government insider. “The other half is that high gas prices have led to some pretty substantial windfall profits for all electricity generation.”

By pulling big power generators such as SSE, ScottishPower, EDF Energy and RWE into the scope of any windfall tax Sunak would sharply increase the revenue it brings in."

[Mr Gus]

This flies in the face of ramping up renewables & serves only to kill the small scale investment ripple scheme of things ..that's just fu****

With all the blight caused by so many energy companies going bust that we are covering (& in some instances still paying salary to) stamping on small scale investors is surely an oversight of govt wallahs that needs taking to task.

Anyone wish to template a letter to local govt? we can get across what individuals are doing with cash up front & less long term credit.

[AE-NMidlands]

This flies in the face of ramping up renewables & serves only to kill the small scale investment ripple scheme of things ..that's just fu****

You think they genuinely care?

With all the blight caused by so many energy companies going bust that we are covering (& in some instances still paying salary to) stamping on small scale investors is surely an oversight of govt wallahs that needs taking to task.

No, it is exactly part of their playbook, as these sort of initiatives take control and monopoly returns (back) into the hands and pockets of our oligarchs.

Anyone wish to template a letter to local govt? we can get across what individuals are doing with cash up front & less long term credit.

What role do local govt play? If you mean UK govt, my contacts with my MP have been very disappointing. They just come out with platitudes which are a fig-leaf to disguise the unacceptable things going on out of public view.

[Joeboy]

Anyone hear the comment on R4 this morning that if there is to be a windfall tax on the fossil fuel [extracting] companies then it should be applied to renewables too? Could give us a back-dated liability...
A

I'll be honest. The thought of the windfall tax on energy companies makes me want to throw up on many levels. Just one more aspect of panhandling Britain that i detest.

At one point a few years back i had taken a 73% hit on shares and a 100% hit on dividends, didn't complain, just got on with it. Did not hear a single voice offering to help the energy companies, now the tide has turned and the profits are rising that somehow gives scumbag Britain an in to those profits? 'F**k off to Oxfam and buy a jumper if you're cold he generalised...'

Sorry, this one hits a nerve in me, obviously i hide it well.

I feel the same on an RE windfall tax.

Actually they said that the windfall tax was justified because the oil companies did get bailouts a few years ago...

Did they? I never saw any of it! Ah well.

[nowty]

Call me cynical but don't you just get the feeling the FF companies have said to the Government, yes we will pay your windfall tax as long as you include the renewable companies. FF companies thinking, well if we have to pay it lets bring the renewable companies down with us.

Government thinks, yes that's a good idea, not realising what a can of worms it will open.

And how far do you go, every energy generator ?, pumped storage, battery grid balancing, even the Coop's and then on to the domestic solar panel generation.

Remember the pasty tax ?

[Mr Gus]

This flies in the face of ramping up renewables & serves only to kill the small scale investment ripple scheme of things ..that's just fu****

You think they genuinely care?

Unless people push back, no, ..so push back.

With all the blight caused by so many energy companies going bust that we are covering (& in some instances still paying salary to) stamping on small scale investors is surely an oversight of govt wallahs that needs taking to task.

No, it is exactly part of their playbook, as these sort of initiatives take control and monopoly returns (back) into the hands and pockets of our oligarchs.

And you are fine with that then, yes?

Anyone wish to template a letter to local govt? we can get across what individuals are doing with cash up front & less long term credit.

What role do local govt play? If you mean UK govt, my contacts with my MP have been very disappointing. They just come out with platitudes which are a fig-leaf to disguise the unacceptable things going on out of public view.

Local govt address potential siting of renewables & potential for local coffers directly or indirectly, as well as local carbon, pollution levels being addressed, employment, infrastructure, energy security instructions etc,so they are a first stop as to kicking arse further up, look at the you turns in govt these past years, even a ruling party plays in part to its own crowd, you duplicate the complaint further up so local govt wallahs are included & maybe, just maybe working in your favour on the matter.

I really don't think crashing the private sector of small investors to be a good advertisment for govt, esp when the next round may be auto enrolment within council tax for local govt energy schemes on a more visible climate emergency tax to decarbonise at increased pace.

[Joeboy]

The carrot was for oil companies to invest the profits in UK RE or be taxed. I guess this is the stick. Undermine RE and NOT invest instead, oh dear...

Once again Nowty DC side self generated power that is not known of is the way forward.
Govt wants to tax the wind and sunshine..

[Moxi]

JB,

Couldn't agree more, I've alluded to this before, its always a good idea to have some off grid capacity - question being these days what is the optimum split between on grid and off grid ?

Moxi

[Joeboy]

JB,

Couldn't agree more, I've alluded to this before, its always a good idea to have some off grid capacity - question being these days what is the optimum split between on grid and off grid ?

Moxi

3% taxable to the grid connection and 97% Black seems a reasonable response in light of this proposed tax grab?

[Moxi]

Certainly scope for some more DC generation and storage here at the CEGB - thats the Cilgeraint Electric Generating Board for those not in the know!



Moxi