UK shifts older wind and solar farms to fixed-price deals to reduce price shocks
by Jillian Ambrose Energy correspondent from on (#752ZN)
Move marks government's most radical attempt to weaken impact of soaring wholesale gas prices on electricity costs
The government has confirmed plans to move older wind and solar farms which make up almost a third of Great Britain's power market on to fixed-price contracts to help protect households and businesses from future gas market shocks.
Under the plans, first revealed by the Guardian, renewable energy projects that earn subsidies on top of the market price will be asked to sign up to contracts that pay a set price for electricity as part of the government's plan to delink the price of electricity from the price of gas".
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