SSE: Labour Party Price Capping Could Jeopardize Offshore Wind Investment

SSE has warned that the U.K. opposition Labour Party could delay investments in offshore wind due to their plan to cap energy bills if they win the 2015 elections, writes Bloomberg.

SSE spokesman Justyn Smith said: “Although we are continuing to develop offshore wind projects, it’s now also becoming increasingly hard to see how a final decision on investment in new offshore wind capacity could be made before the 2015 election.”

The Conservative-led government also said that they could jeopardize investment, while SSE has announced that they are holding their investment in new gas plants until 2015 due to the uncertainty.

SSE already has stake in three operating offshore wind farms and is in the development stage with five more.

Offshore WIND staff, October 14, 2013; Image: sse