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Michael Fallon explains the UK´s Electricity Market Reform in Madrid

The UK Minister gave a detailed account of UK energy policy and the huge investment opportunities resulting from the reform

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Michael Fallon with Giles Paxman during his visit to Madrid

The UK Minister of State for Energy and Minister of State for Business and Enterprise, Michael Fallon, visited Madrid last week to present the UK’s Electricity Market Reform to Spanish companies interested in UK policy developments and hearing about business and investment opportunities resulting from the Reform.

The Minister took part in an intense one-day programme for which kicked off with a bilateral meeting with Alberto Nadal, Spanish Minister of State for Energy, where the ongoing reform processes in both countries and the 2030 framework were discussed.

This was followed by one-to-one meetings with four Chairmen/CEOs of Spanish Energy investors in the UK and the day concluded with an event organized by UKTI Madrid and sponsored by Club Español de la Energía ( the sector´s prestigious think-tank) at the Ambassador’s residence to present the EMR. The audience of made up of approximately 25 senior Directors from Spanish energy companies heard a detailed account of UK energy policy and the huge investment opportunities resulting from the reform. The presentation was followed by a Q&A session which covered:

  • Contracts for Difference
  • Strike Price
  • Capacity Markets
  • UK’s approach to oil exploration
  • Shale gas potential
  • Future of nuclear

Coming so soon after the launch of the EMR Delivery Plan and Spain´s own energy reform, the Minister´s presentation gave a strong boost to our energy profile in Spain and reinforced the UK as an excellent investment location. UKTI will follow up interest from the companies who attended the meetings and the conference with specific action points.

For more information on EMR and investment opportunities in the UK, contact: Marianne Carlin UK Trade & Investment British Embassy Madrid Tel: +34 91 714 6340

Published 31 July 2013