Energy Transition

What is the UK energy windfall tax and why does it need to change?

Here, a professor of economics and public policy explains the different kinds of windfall taxes used by governments and why he believes investment incentives are unlikely to work in uncertain times. Image: Unsplash/matthewhenry

İrem Güçeri

Associate Professor of Economics and Public Policy, University of Oxford


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Graph showing the system average price, pence per kilowatt hour. windfall tax wholesale market
The average price of all gas traded on GB wholesale markets. When extraordinary profits are purely down to external factors, such sectors become prime targets for windfall taxes. Image: Conversation


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