The Queen’s property managers will this week set out terms for the world’s biggest offshore wind auction in a decade. Industry experts expect the complex bidding process to raise record sums, which could increase energy bills and hand a windfall to the crown – potentially generating more than £100m a year in royalties for the Queen. The Crown Estate, which manages the monarch’s property portfolio, holds exclusive rights to lease the seabed around the British Isles for wind and wave power. Its profits go to the Treasury, which then sends 25% back to the royal household in the form of the sovereign grant.
Guardian 17th July 2019 read more »