Member

The final point I would make is that the noble Lord, Lord Moynihan, is quite right: in a time of great price volatility, people make superprofits under the RO because they are included in that superprofit volatility, as opposed to being insulated from it under CfDs. The noble Lord will remember that, during the Ukrainian invasion crisis, under the Energy Act 2023, an energy price levy was put on the superprofits of both fossil fuel companies and renewable energy producers. That could certainly be looked at, in terms of what this present crisis portends for us, but, as I say, we are still in very early days. We do not know exactly where things are going, but these are the sorts of thing that we need to keep carefully in mind as we move forward with this crisis.