Osborne offers deal on wind power
Mr Osborne said he was “content” to accept a reduction in subsidies of just 10 per cent in the short term. ...some in the Treasury had been pressing for cuts of up to 25%. ...But the compromise offer came with a list of demands aimed at securing a big role for natural gas in Britain’s energy mix.
July 23, 2012
by Jim Pickard
in Financial Times
George Osborne has offered to drop his demands for tougher cuts to onshore wind subsidies if the Liberal Democrats back down over “inflexible” targets for Britain’s shift away from fossil fuels.
The chancellor made his offer in a letter this month to Ed Davey, the Lib Dem energy secretary, amid a fierce coalition dispute over how much support to provide for onshore wind power.
In the letter, seen by the Financial Times, Mr Osborne said he was “content” to accept a reduction in subsidies of just 10 per cent – as proposed by Mr Davey – in the... [continue via Web link]