Spending Review: No cuts to feed-in tariffOctober 20, 2010
During the spending review today, Chancellor George Osborne announced:
“The efficiency of feed-in tariffs will be improved at the next formal review, rebalancing them in favour of more cost effective carbon abatement technologies. This will save £40 million in 2014-15. Support for lower value innovation and technology projects will also be reduced, saving £70 million a year on average over the Spending Review period.”
The announcement follows speculation that the Coalition would slash the Department of Energy and Climate Changes initiative set by Labour in April.