15 - DECC - Electricity Market Reform: Keeping the lights on in the cheapest, cleanest way
- Electricity Market Reform: Keeping the lights on in the cheapest, cleanest
- White Paper to bring about
biggest reforms since privatisation
- Renewables Roadmap plots out
actions to meet 2020 target
On July the
12th 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.
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.
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.