Greenpeace Accuses Crown Estate of Profiteering from Wind Farms
Greenpeace UK has accused the Crown Estate of 'monopoly profiteering' from offshore wind developments, warning of potential legal action unless changes are made to the leasing of the seabed to energy firms.
The Crown Estate should be managing the seabed in the interest of the nation and the common good, not as an asset to be milked for profit and outrageous bonuses.
According to Greenpeace, the current auction system drives up costs for developers and household energy bills. A new round of auctions is expected, with major energy companies competing for seabed plots.
The Crown Estate manages the monarch's land and property portfolio, owning the UK seabed outside Scotland, and earns billions from leasing it for offshore wind projects.
Author's summary: Greenpeace UK accuses Crown Estate of profiteering.
- Greenpeace UK accuses Crown Estate of 'monopoly profiteering'
- Crown Estate's auction system drives up costs for developers and household energy bills
- New round of auctions expected to attract major energy companies