LONDON, April 21 (Reuters) - Britain set out plans to try to weaken the link between its cost of electricity and volatile gas prices on Tuesday, saying it would seek to force older renewable energy
UK Moves to Weaken Link Between Electricity and Gas Prices, Raise Levy
Government Plans to Reform Electricity Pricing and Levy Structure
Introduction to the New Measures
LONDON, April 21 (Reuters) - Britain set out plans to try to weaken the link between its cost of electricity and volatile gas prices on Tuesday, saying it would seek to force older renewable energy generators onto fixed contracts in a bid to bring down consumer bills.
Details of Fixed Contracts for Renewable Generators
Voluntary Long-Term Fixed Contracts
The government said voluntary long-term fixed contracts would be offered to existing low-carbon generators not on fixed prices so they were not being paid the price of gas. It said this would cover around a third of Britain's power supply.
Increase in Electricity Generator Levy
Levy Rate Adjustment
It also said it would increase the Electricity Generator Levy by raising the rate from 45% to 55%.
Reporting and Editorial Credits
(Reporting by Sarah Young and Kate Holton, Editing by Paul Sandle)
