John Hayes' response to Alistair Buchanan’s comments on energy security and rising gas prices
- Department of Energy & Climate Change and The Rt Hon John Hayes CBE MP
- Part of:
- Energy industry and infrastructure licensing and regulation and UK energy security
- 19 February 2013
- Last updated:
- 19 February 2013, see all updates
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
John Hayes' reponse to comments made by Alistair Buchanan, Chief Executive of Ofgem.
Responding to Alistair Buchanan’s comments today, John Hayes, Minister of State for Energy, said:
“Alistair Buchanan’s remarks come as no surprise, because we know that around a fifth of our ageing power stations are due to close over the next decade. We are determined to secure investment in new plant. That’s why we are stepping up to the plate, by reforming the electricity market through the most radical Energy Bill in a generation, to ensure our energy security and to keep the lights on.
“These fundamental reforms will incentivise a record £110 billion of private sector investment in new power generation – in renewables, new gas, nuclear and Carbon Capture and Storage. Investing in a diverse energy mix will secure our energy future, and ensure we insulate consumers from the fluctuating price of fossil fuels.”
Published: 19 February 2013
Updated: 19 February 2013
- Statement revised to include quote from DECC minister.
- First published.