Outlook 2025: Navigating the windfall tax and the future of UK energy
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
The UK government recently announced an increase in the windfall tax on oil and gas companies from 35% to 38%, a move aimed at capturing a share of the “extraordinary profits” generated during soaring energy prices. While the additional 3% will undoubtedly inject a significant sum into the budget, concerns are mounting about the potential long-term consequences for the UK’s energy security and economy. The windfall tax, designed as a temporary measure, is intended to fund support packages for households struggling with rising energy bills. This short-term gain, however, will likely come at a steep price. We must be wary of unintended consequences that could jeopardise the nation’s ener
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
