The draft Energy Bill proposes radical reform to the electricity market to attract the £110 billion required to build new low-carbon capacity.

It will be designed to encourage a balanced portfolio of renewables, new nuclear and Carbon Capture and Storage (CCS), and to ensure that these technologies can compete fairly in the market-place.

However, gas will continue to play an important role in the transition to a low-carbon economy, to provide flexibility and help maintain security of supply. A separate strategy on the role of gas will be published in autumn 2012.

While the CBI said it was reassuring there was some progress on the Energy Bill, Dr Neil Bentley, CBI Deputy Director-General, said:

“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."

TUC General Secretary Brendan Barber also welcomed the announcement:

"The government's energy reforms should drive over £110bn of investment into the economy. But more can be done to ensure these changes create jobs in the UK by combining energy and industrial policy.

"The government should set out a plan for energy jobs and growth alongside the Bill so that new power plants can lead the way in training and apprenticeships."

http://www.workplacelaw.net/environment/content/41681

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The draft Energy Bill proposes radical reform to the electricity market to attract the £110 billion required to build new low-carbon capacity.

It will be designed to encourage a balanced portfolio of renewables, new nuclear and Carbon Capture and Storage (CCS), and to ensure that these technologies can compete fairly in the market-place.

However, gas will continue to play an important role in the transition to a low-carbon economy, to provide flexibility and help maintain security of supply. A separate strategy on the role of gas will be published in autumn 2012.

While the CBI said it was reassuring there was some progress on the Energy Bill, Dr Neil Bentley, CBI Deputy Director-General, said:

“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."

TUC General Secretary Brendan Barber also welcomed the announcement:

"The government's energy reforms should drive over £110bn of investment into the economy. But more can be done to ensure these changes create jobs in the UK by combining energy and industrial policy.

"The government should set out a plan for energy jobs and growth alongside the Bill so that new power plants can lead the way in training and apprenticeships."

http://www.workplacelaw.net/environment/content/41681

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Draft Energy Bill to reform electricity market published

Posted on 23 May 2012.

The Government has published the Draft Energy Bill which includes reforms to the UK’s electricity market designed to provide investors with incentives to attract £110 billion of investment in new low-carbon power generation.

According to the Department of Energy and Climate Change, over the next decade around a fifth of existing power generating capacity will come off-line which could lead to blackouts and dependency on importing oil and gas from overseas.

Secretary of State Edward Davey said:  “Leaving the electricity market as it is would not be in the national interest. If we don’t secure investment in our energy infrastructure, we could see the lights going out, consumers hit by spiralling energy prices and dangerous climate change.

“These reforms will ensure we can keep the lights on, bills down and the air clean. The reforms will also be better for the economy, leaving us less vulnerable to rising global energy prices and supporting as many as 250,000 jobs in the energy sector.

“By reforming the market, we can ensure security of supply for the long-term, reduce the volatility of energy bills by reducing our reliance on imported gas and oil, and meet our climate change goals by largely decarbonising the power sector during the 2030s."

The draft Energy Bill proposes radical reform to the electricity market to attract the £110 billion required to build new low-carbon capacity.

It will be designed to encourage a balanced portfolio of renewables, new nuclear and Carbon Capture and Storage (CCS), and to ensure that these technologies can compete fairly in the market-place.

However, gas will continue to play an important role in the transition to a low-carbon economy, to provide flexibility and help maintain security of supply. A separate strategy on the role of gas will be published in autumn 2012.

While the CBI said it was reassuring there was some progress on the Energy Bill, Dr Neil Bentley, CBI Deputy Director-General, said:

“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."

TUC General Secretary Brendan Barber also welcomed the announcement:

"The government's energy reforms should drive over £110bn of investment into the economy. But more can be done to ensure these changes create jobs in the UK by combining energy and industrial policy.

"The government should set out a plan for energy jobs and growth alongside the Bill so that new power plants can lead the way in training and apprenticeships."

http://www.workplacelaw.net/environment/content/41681