Greenpeace UK Warns Crown Estate Over Monopoly Profiteering
Greenpeace UK has warned the Crown Estate that it may take legal action unless the public body stops "monopoly profiteering" at the expense of bill payers and offshore wind developers.
The warning comes ahead of a major auction where energy firms will bid for plots of seabed to build new wind farms.
About the Crown Estate
The Crown Estate manages the land and property belonging to the King, providing revenue to the Treasury and the Royal Household.
As the legal owner of the UK seabed outside of Scotland, it runs auctions to lease blocks of seabed to offshore wind developers, generating income from option fees and leasehold rents.
“monopoly profiteering”
Author's summary: Greenpeace UK warns Crown Estate over profiteering.
- Greenpeace UK considers legal action against Crown Estate.
- Crown Estate manages the King's land and property.
- Auctions for seabed leases generate income for the Treasury and Royal Household.