15 - DECC - Electricity Market Reform: Keeping the lights on in the cheapest, cleanest way

• White Paper to bring about biggest reforms since privatisation
• Renewables Roadmap plots out actions to meet 2020 target

On July the 12^th coalition measures to keep the UK’s lights on and consumer bills down, and shift the economy away from a high risk, high-carbon future, have been unveiled.

With a quarter of the UK’s generating capacity shutting down over the next ten years as old coal and nuclear power stations close, more than £110bn in investment is needed to build the equivalent of 20 large power stations and upgrade the grid. In the longer term, by 2050, electricity demand is set to double, as we shift more transport and heating onto the electricity grid. Business as usual is not therefore an option.

The Electricity Market Reform White Paper published today sets out key measures to attract investment, reduce the impact on consumer bills, and create a secure mix of electricity sources including gas, new nuclear, renewables and carbon capture and storage. The Renewables Roadmap published alongside this outlines a plan of action to accelerate renewable energy deployment – to meet the target of 15% of all energy by 2020 – while driving down costs.