Proposals announced to reform power market
The government has published a consultation on proposals to reform the electricity market
The plans aim to move the UK to the front of the global race for electricity investment, drive the growth of clean energy industries in the UK and ensure the best possible deal for consumers.
Ahead of the consultation’s launch, Prime Minister David Cameron visited a centre showcasing innovative and sustainable construction. Mr Cameron toured the BRE Innovation Park in Watford with BRE Chief Executive Peter Bonfield.
The PM said:
What we want is green, reliable, cheap electricity, and we’re not leaving that to chance. We’re setting out policies today that will deliver that.
They’ll also have the spin-off advantage of helping to make Britain one of the greenest places for green energy, for green electricity, for green investment and crucially for green jobs anywhere in the world.
Energy Secretary Chris Huhne announced details of the proposals in Parliament, including:
- four reforms to provide long-term certainty for electricity investors
- a new market to have built-in level playing field for low carbon
- rules for existing investments protected
- long-term impact on household electricity bills lower than under the current market
Read more about the proposals on the DECC website