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Profit extraction, and it's very efficient

Around 30% is climate levy and similar taxes, plus there’s 5% VAT.

If 30% is climate levy then that's some rather cheap electricity, because the climate levy is less than 1p/kWh.

https://www.gov.uk/guidance/climate-change-levy-rates

This is what happens when people treat the Telegraph as news rather than a source of disinformation used by wealthy vested interests to manipulate public opinion.

7p looks a tad optimistic, but only a tad - https://energy-stats.uk/wholesale-energy-pricing/

That I'm aware of, the "wholesale cost" does not include the local distribution networks. Those cost a fair number of pence to build and maintain.

And - I vaguely recall that the UK had world-beating taxes and surcharges on electricity - some for "green" reasons, some to spread the agony of the staggering cost overruns at new British nuclear plants, and some to help shore up the government's "general budget" financial woes.

some daft way so that oil, coal, and gas generators of electricity don't lose money to cheaper renewables, so the price per unit is set to the least efficient method - absolutely ludicrous.