Greenpeace Accuses Crown Estate of Profiteering from Wind Farms
Greenpeace UK has accused the Crown Estate of 'monopoly profiteering' from offshore wind developments.
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 UK, the current auction system is driving up costs for developers and household energy bills. The Crown Estate owns the UK seabed outside Scotland and earns billions through leasing it for offshore wind projects.
- Greenpeace UK co-executive director Will McCallum warned of potential legal action if the Crown Estate does not change its leasing approach.
- A new round of auctions is expected to attract major energy companies competing for plots of seabed.
Author's summary: Greenpeace UK accuses Crown Estate of profiteering.