Greenpeace UK Warns Crown Estate Over Monopoly Profiteering
!author: Greenpeace UK warns against profiteering.
Greenpeace UK has warned the Crown Estate that it is considering taking legal action unless the public body stops “monopoly profiteering” at the expense of bill payers and offshore wind developers.
“monopoly profiteering”
The warning comes ahead of a major auction where energy firms are expected to bid for plots of seabed on which to build new wind farms.
About the Crown Estate
The Crown Estate manages all of the land and property belonging to the King, and provides revenue to the Treasury and the Royal Household.
- Manages land and property belonging to the King
- Provides revenue to the Treasury and the Royal Household
- Runs auctions to lease blocks of seabed to offshore wind developers
As the legal owner of the entire UK seabed outside of Scotland, it generates income from option fees and leasehold rents.