'Clock is ticking' - CBI responds to draft Energy Bill
23 May 2012 11:06 AM
The CBI responded to the publication of the draft Energy Bill which includes reforms to the UK’s electricity market.
Dr Neil Bentley, CBI Deputy Director-General, said:
“While it is reassuring to see some progress on the Energy Bill, it’s now important that Parliament not only gets it right, but does so as a matter of urgency. With over a fifth of the UK’s generating capacity coming off stream over the next ten years, we face a real risk of electricity shortages in the second half of the decade.
“The clock is ticking to create the market certainty that will unlock billions of pounds of private sector investment, generating many new jobs across the UK, and securing an affordable supply of energy.
“We are still some way from having a detailed picture of how the electricity market will look in the future, on which the success of these reforms depends. With major investors waiting in the wings, these details are needed as soon as possible.”
Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.