The Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, delivered her 2026 Spring Statement on Tuesday afternoon. While not a formal Budget, it provided an update on the state of the economy and the progress made since the Budget in November 2025, and was followed by the publication of the Office for Budget Responsibility’s Economic and fiscal outlook. Worth noting however, that the OBR’s forecast was made before the latest conflict developments in the Middle East and does not take into account any potential fallouts from this, such as impact on gas prices, which have risen steeply since the beginning of March.

From April 2026, subsidy payments under the RO and FiT will be uprated by CPI rather than RPI, as part of a broader effort to manage electricity system costs. In this article, Brevia Energy explores the rationale behind the reform, the projected consumer savings, and the implications for legacy renewable assets.