Reform UK Warns It Plans Scrapping Clean Energy Subsidies Ahead Election

Reform UK, led by deputy leader Richard Tice, has formally notified major wind and solar energy developers that it intends to terminate their access to the Contracts for Difference (CfD) subsidy scheme if it wins the next general election. The CfD scheme guarantees renewable energy providers a fixed price for electricity, encouraging investment by protecting against market volatility. Reform UK criticizes the net zero agenda and its associated costs, warning companies that participating in the upcoming Allocation Round 7 (AR7) auction carries significant political and financial risks, as the party plans to strike down all contracts signed under this round. Climate analysts and opposition parties warn that scrapping these subsidies would deter investment, threaten British jobs, increase reliance on foreign gas imports, and damage the UK's credibility as a stable investment destination. Reform UK's stance challenges the current Labour government’s efforts to expand renewable energy capacity and meet decarbonization targets by 2030. The move highlights a growing political fracture over energy policy and the future of clean energy subsidies in the UK.