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The Guardian - UK
The Guardian - UK
Business
Alex Lawson Energy correspondent

What is a windfall tax and will it be extended to UK energy providers?

United Kingdom Gordon Brown ​​Rishi Sunak British Petroleum Electricity Boris Johnson EPL Kwasi Kwarteng Shell Centrica
The sun rises behind an electricity pylon at Little Cheyne Court in Romney
The former prime minister Gordon Brown has called for energy firms that cannot lower bills to be temporarily brought into public ownership. Photograph: Neil Hall/EPA

Interest in a windfall tax on electricity generation companies has re-emerged after industry executives met the chancellor, Nadhim Zahawi, and the business secretary, Kwasi Kwarteng, on Thursday. The former chancellor Rishi Sunak introduced a windfall tax on North Sea oil and gas operators in May. Here, we examine the issue.

What is a windfall tax?

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