The revelation that there will be no more money for projects before 2025 could dash hopes for pioneering projects such as the proposed £1.3bn tidal lagoon in Swansea, which has a mooted launch date of 2022. The WWF said it was a huge disappointment, while Greenpeace claimed Wednesday’s budget was one of the least green ever. That means the backers of new nuclear power stations are unlikely to be affected by the decision, because none was expected to be built by then. The government confirmed that it would honour an existing pledge to auction £557m of renewable energy subsidies, beginning next year. Big energy firms, including SSE, have been calling for the tax, the carbon price floor, to be strengthened to encourage new investment in greener energy.

Source: The Guardian November 22, 2017 16:48 UTC