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Friday 30 Nov 2012 @ 15:11
Department of Energy and Climate Change
Department of Energy and Climate Change
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Legislation to power low-carbon economic growth, to protect consumers, and to keep the lights on
An Energy Bill to power low-carbon economic growth, to protect consumers, and to keep the lights on has been introduced to Parliament by Edward Davey.
Following extensive consultation and pre-legislative scrutiny, the Bill sets out reforms to the design of the electricity market that will kick-start a renaissance in construction of low-carbon energy infrastructure and in low-carbon manufacturing supply-chains.
The Energy and Climate Change Secretary said:
“The Energy Bill will attract investment to bring about a once in a generation transformation of our electricity market, moving from predominantly a fossil-fuel to a diverse low-carbon generation mix.
“The Energy Bill will attract investment to bring about a once in a generation transformation of our electricity market, moving from predominantly a fossil-fuel to a diverse low-carbon generation mix.
“This is the culmination of two years’ work in designing a new market-based approach that will deliver certainty for investors and fairness for consumers.
“The challenge is big. Over the next decade, the investment needed to upgrade our energy infrastructure is almost half of the infrastructure investment needed in the UK. This is far more than is taking place in transport, in telecoms, or in water, and dwarfs the investment that was needed for the Olympics or Crossrail.
“The Bill will support the construction of a diverse mix of renewables, new nuclear, gas and CCS, protecting our economy from energy shortfalls and significantly decarbonising our electricity supply by the 2030s as part of global efforts to tackle climate change.
“This is an economic opportunity - there for the taking. It will stimulate supply chains and support jobs in every part of the country, capitalising on our engineering prowess and our natural resources, cementing the UK’s place at the forefront of clean energy development.
“In an era of rising global energy prices, by shifting to more home grown sources of power and by becoming more energy efficient, we can cushion our economy and households from the fluctuations of world gas markets. We intend to underpin this with reforms to the retail market to simplify tariffs and make sure consumers are able to get the best deal for them.”
