The non-profit’s latest report has criticised the rules surrounding the financing of offshore wind farm projects, claiming the government could cause taxpayers to miss out of savings of more than £1.5bn a year from cheaper renewable energy. 

Constraints on bidding for wind power – due to be completed in September – could secure as little as 2GW of offshore wind, compared with around 7GW that could have been secured without government red tape, ECIU has said. 

A similar scenario took place last year, when the government contracted 1GW less than it could have. ECIU figures showed the round could have been worth up to £225m in savings each year, under forecast wholesale prices of £100/MWh.

“The government seems to be focused on North Sea gas licences and tax breaks for oil companies that won’t bring down bills, while tying up offshore wind farms that generate electricity cheaper than gas in red tape. What is going on?" said Jess Ralston, an energy analyst...