A draft UK energy bill has been published with the focus on secure, clean and cost-effective electricity. The bill proposes to boost the generation of clean energy and minimise price rises. The Department of Energy and Climate Change has proposed to radically alter the electricity industry in the UK so it can reach its climate change targets via generating more low-carbon energy.
According to the draft bill, it puts in place measures to attract £110b of new investment that has been estimated to replace current generating capacity and upgrade the national grid by 2020. Is upgrade according to the Department of Energy and Climate Change is essential in dealing with the current rising demand for electricity.
Other provisions that are included in the bill are:
- Electricity Market Reform (EMR)
- Introduction of a Strategy and Policy Statement (SPS) to improve regulatory certainty by ensuring that Government and Ofgem are aligned at a strategic level
- Creation of the Office for Nuclear Regulation (ONR)
- Enabling the sale of the Government Pipeline and Storage System (GPSS)
- A technical amendment to avoid offshore wind generators constructing transmission assets falling foul of the law
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