£1.5bn: that’s a big hole in anybody’s budget. So the revelation last year that the government was set to overspend its budget for renewables subsidies, the Levy Control Framework, by that amount had alarming repercussions. Ministers scrambled to cut subsidies to put the budget back in the black, and even put the second auction for a key set of subsidies, Contracts for Difference (CfD), on hold.
Back in the black: fixing the Levy Control Framework
