UK wants to cap renewable energy producers' profits

According to Bloomberg, the UK is pushing plans to impose revenue caps on renewable energy producers to reduce the impact of rising energy bills on households.

Representatives from the UK's Department for Business, Energy and Industrial Strategy have held talks with a number of major renewable energy companies.

The talks have focused on a mechanism that would cap revenues for renewable energy producers and allocate funds to help consumers. According to the agency, the plans have not yet been finalised.

It was noted that in early September, UK Prime Minister Liz Truss announced plans to cap the average household electricity bill at £2,500 ( about $2,675 ).

As part of her policy to deal with the effects of the energy crisis, she said she hoped to sign contracts with major energy companies, including Centrica and EDF Energy, to reduce wholesale energy prices.