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UK energy firms warn temporary tax is costing 1,000 jobs monthly and urge permanent tax system by 2026.
The UK’s offshore energy industry is facing worsening conditions, with trade group OEUK urging the government to establish a permanent tax regime by 2026.
In a letter signed by over 110 companies, OEUK warned that the temporary Energy Profits Levy is causing 1,000 job losses per month, threatening investment, supply chains, and energy security.
The group emphasized the need for a multi-revenue model combining oil and gas, decommissioning, and renewables to sustain around 200,000 UK jobs.
Without reform, it warns of further economic harm, but projects a revised tax system could add £137 billion to the economy by 2050 and create 23,000 new jobs by 2030.
Environmental groups criticized the letter as prioritizing profits over climate goals, while the government said it remains committed to a balanced transition with ongoing investments in offshore wind and carbon capture.
Las empresas de energía del Reino Unido advierten que el impuesto temporal está costando 1.000 empleos al mes e instan a un sistema fiscal permanente para 2026.