The environmental organization is preparing to take legal action targeting the estate manager associated with King Charles, alleging it is abusing its exclusive control over the ocean floor.
The group asserts that the Crown Estate has increased costs for wind energy developers while enhancing its own earnings and the monarchy's revenue through aggressive auctions for offshore leasing rights.
As the legal owner of the seafloor surrounding the UK's coastal waters, the estate manages the auctioning of rights for sea-based wind projects. It has benefited greatly from the sector's growth, collecting substantial option fees from clean power developers aiming to obtain zones for wind power construction.
The estate reported a profit of £1.1 billion for the fiscal period ending in March, doubling the figure from just two years earlier.
Greenpeace UK's co-executive director stated, "Our marine territory should be managed in the interest of the nation and common good, not viewed as an asset to be exploited for profit and large incentives."
He added, "It's essential to leave no stone unturned in seeking solutions to reduce energy bills that are causing hardship for millions of families."
"Considering the importance of affordable bills and clean power to the national plans, the finance minister should exercise her powers to call for an independent review of these auction processes. If the problem isn't resolved before the subsequent phase, we may have to let the courts decide on whether the existing methods are legal."
Greenpeace contends that the Crown Estate has a statutory duty to avoid misusing its monopoly status as seabed owner, but is currently breaching this responsibility.
They voiced worries that the Crown Estate is limiting seabed supply to maintain high prices, which could hinder the advancement of marine renewable energy in the UK.
The estate has reportedly dismissed Greenpeace's claims, stating that the organization has misunderstood its statutory obligations.
Roughly twelve percent of the estate's earnings are directed to the royal family to fund its activities. This share was reduced from twenty-five percent in recent years to balance the increase in profits from marine energy ventures.
The UK's wind energy sector is at a critical point as the administration plans to increase twofold land-based wind power and increase fourfold offshore wind capacity by the 2030s.
The Crown Estate, which also holds a collection of London properties and countryside holdings, is worth at £15 billion. Its property in the city, centered around prime central areas, are appraised at £7.1 billion.
A representative for the estate commented, "Greenpeace has misinterpreted our obligations and leasing processes. Option fees are not determined by the estate. They are established by companies through transparent bidding and reflect industry interest at the moment. Since our income is returned to the Treasury, option fees guarantee that the public benefit from the appropriate value from using our limited and valuable marine territory."
The representative added, "We is accelerating marine renewable energy in line with national strategy to advance the shift to clean power rapidly and improve energy security."
The Treasury was contacted for comment.
