Reform gives power companies ‘formal notice’ it plans to scrap their clean energy subsidies
Reform puts power companies on notice over clean energy plans
- Reform UK has informed major wind and solar developers that it would terminate their access to the Contracts for Difference (CfD) scheme if the party comes to power.
- Deputy leader Richard Tice sent a formal notice, warning companies that participating in the upcoming CfD auction (AR7) would be at their own risk.
- The CfD scheme currently guarantees renewable energy developers a fixed price for electricity, insulating them from market volatility and encouraging investment.
- Climate analysts warned that scrapping the scheme would deter investment, jeopardise British jobs, and increase the UK's reliance on foreign gas.
- Labour criticised Reform UK's position, stating it would discourage clean energy investment, threaten jobs, and put the nation's energy security at risk.