King crab price costco RWE windfarm off the coast of north Wales. Last modified on Thu 19 Jan 2023 11. Six new offshore wind energy lease agreements, announced by the crown estate on Thursday, have generated a major windfall for the estate, which would usually lead to a jump in the monarchy’s official funding.

The monarch’s right to collect royalties from wind and wave power was granted by Tony Blair’s Labour government in a 2004 act of parliament. The approach is in contrast to the job of setting royalties and assigning drilling rights for oil and gas, which rests with the government. It is not clear as to the exact amount of taxpayer funding the king has passed up, but it is likely to be many millions. 6bn in the most recent annual accounts. Treasury each year for the benefit of the nation’s finances, in exchange for the sovereign grant.

In view of the offshore energy windfall, the keeper of the privy purse has written to the prime minister and the chancellor to share the king’s wish that this windfall be directed for wider public good, rather than to the sovereign grant, through an appropriate reduction in the proportion of crown estate surplus that funds the sovereign grant. The sovereign grant is based on funds two years in arrears, so any boost in crown estate profits and new percentage arrangements would not affect the grant until 2024-2025. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. The sovereign grant covers the running costs of the royal household and events such as official receptions, investitures and garden parties. 369m’s worth of repairs at the palace. The grant goes up if crown estate profits increase, but it does not fall when they decrease.

The crown estate confirmed on Thursday it had signed lease agreements for six offshore wind projects that have the potential to power more than 7m homes. Three of the six projects are located off the north Wales, Cumbria and Lancashire coast, and three are located in the North Sea off the Yorkshire and Lincolnshire coast. 1bn to the crown estate every year. The successful bidders, which were announced last year, included Germany’s RWE Renewables, which won two licences at Dogger Bank, off the Yorkshire coast, and two from a consortium that includes the oil company BP. Why hasn’t Harry given up his ridiculous title yet? Media Limited or its affiliated companies. King of the Franks, King of the Lombards, and the first Holy Roman Emperor.

King is the title given to a male monarch in a variety of contexts. In the context of prehistory, antiquity and contemporary indigenous peoples, the title may refer to tribal kingship. In the context of classical antiquity, king may translate in Latin as rex and in Greek as archon or basileus. The city-states of the Aztec Empire had a Tlatoani, which were kings of pre-Hispanic Mesoamerica. The Huey Tlatoani was the emperor of the Aztecs. The term king may also refer to a king consort, a title that is sometimes given to the husband of a ruling queen, but the title of prince consort is more common. The English term translates, and is considered equivalent to, Latin rēx and its equivalents in the various European languages.