Greenpeace Threatens Legal Action Against Crown Estate
Greenpeace UK is considering taking legal action against the Crown Estate for alleged "monopoly profiteering" in offshore wind, which they claim hampers the industry and increases bills.
The Crown Estate's "monopoly profiteering" is hampering offshore wind and pushing up bills.
The warning comes ahead of the UK's Allocation Round 7 auction, where energy firms will bid for seabed plots to build new windfarms.
- The Crown Estate manages the King's land and property, generating revenue for the Treasury and Royal Household.
- As the legal owner of the UK seabed outside of Scotland, it leases blocks of seabed to offshore wind developers, earning income from option fees and leasehold rents.
Author's summary: Greenpeace may sue Crown Estate over offshore wind profiteering.