Rishi Sunak reportedly considering windfall tax on electricity generators

Levy could be extended beyond oil and gas producers to help households in cost of living crisis

Rishi Sunak is reportedly considering imposing a wider windfall tax on electricity generators, as well as on oil and gas producers, that could bring in billions of pounds to help households struggling with soaring food and energy costs.

The chancellor has instructed Treasury officials to work on plans for a potential tax on more than 10bn of excess profits made by electricity generators, including renewable energy operators such as windfarms, according to sources cited by the Financial Times.