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Policy

UK Energy Policy Gamble Spooks Global Markets

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UK Prime Minister Liz Truss' few weeks in office have proved a tumultuous time for UK energy policy. The government is shifting its focus to promote fossil fuel exploration and development and rethink net-zero plans. Toward that end, a hydraulic fracturing moratorium in place since March 2019 has been lifted for England and a review of the UK's net-zero 2050 plans ordered. But it's the dismissal of more windfall taxes on energy companies, alongside planned government borrowing to fund both tax cuts for high earners and an energy support package for vulnerable consumers, that's made the most waves — sending the pound to a record low.

Topics:
Low-Carbon Policy, Renewable Electricity , Policy and Regulation
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