Chancellor extends energy windfall tax to ‘low carbon’ generators

Sizewell B nuclear power station in Suffolk. Jeremy Hunt has extended the levy to wind, solar and nuclear generators. Photograph: John Keeble/Getty

Jeremy Hunt hopes to raise £14bn next year after increasing the windfall tax on oil and gas companies and reining in the profits of low carbon electricity generators.

The chancellor also confirmed that the existing windfall tax on North Sea oil and gas operators, the energy profits levy (EPL), will be raised from 25% to 35% and extended by two years, until March 2028.