King Charles Diverts $1.2 Billion from Wind Farms to the 'Wider Public Good' amid Cost-of-Living Crisis

King Charles III is redirecting $1.2 billion in profits from wind farms to the British government instead of the royal family. Charles and the royal

family were due to receive a potential boost to their funds following an expected surge in profits from six wind farms owned by the Crown Estate around the British coast.

The money would have come into the royal family's funds that are annually given by the U.K. government to pay for their public duties. But he has agreed to make it available to

the treasury. Buckingham Palace says that Charles, 74, would like it used for the "wider public good" — especially at a time when many people are finding it hard to make

ends meet as fuel and heating and food costs rise. "In view of the offshore energy windfall, The Keeper of the Privy Purse [Sir Michael Stevens] has written to the

Prime Minister and 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," a palace spokesperson said in a statement on Thursday. Palace sources point out that Charles

referenced the cost-of-living issue faced by many in the U.K. in his first Christmas Day address last month. RELATED: Prince William and King Charles Miss Funeral for

Greece's Last King, Constantine II The Sovereign Grant, which is comprised of public funds given to the royals to pay for their official duties (such as travel for official

outings and tours and the upkeep of royal palaces), is linked to the Crown Estate profits.