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FOSSIL FUEL LEVY EARNINGS
1 September 1995
In the last financial year £1,205 million was raised through the Fossil Fuel Levy to support the nuclear industry and renewable energy. By far the largest share of levy proceeds -- 92 per cent -- went to nuclear companies, leaving the remaining 8% to be shared between all renewable generators -- those with contracts under the Non Fossil Fuel Obligation. Next year, however, electricity regulator Stephen Littlechild expects the renewable component to increase to around 10%. The levy is a tax on fossil fuelled generation and is collected from public electricity suppliers in England and Wales.
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