Edward Davey statement on Energy Bill 2nd reading

Essential legislation to power low-carbon economic growth, to protect consumers, and to keep the lights on, will be debated by MPs from noon tomorrow as the Energy Bill is introduced for its 2nd reading in Parliament.

On the eve of the debate, Secretary of State Edward Davey said:

“The Coalition Government is proposing a once-in-a-generation transformation of the electricity market from fossil-fuel dependency to low-carbon diversity.

“The Energy Bill will bring about a renaissance in our energy sector, providing the certainty companies need to invest a record £110 billion to upgrade our ageing power stations.

“This will support our economic recovery, resulting in thousands of new jobs in every nation and region of the UK.

“It will enable us to keep the lights on and to keep bills affordable for consumers, whilst leading to a significant decarbonisation of the power sector in order to meet our climate targets.

“To further support emission reductions in the power sector, we will take additional powers in the Bill to set a decarbonisation target range for 2030.    A decision to exercise this power will be taken once the Climate Change Committee has provided advice in 2016 on the 5th Carbon Budget which covers the corresponding period.

“In addition, we will limit the bamboozling array of energy tariffs suppliers provide to four tariffs per fuel type. This will help to move millions of households on to better energy deals.

“Ofgem as independent regulator will be given more teeth, with energy companies required to pay compensation to consumers as well as to the regulator if they breach the terms of their licence conditions.

“New players will be encouraged into the electricity market through measures we have added to promote competition and liquidity.

“And we will further strengthen this Bill by adding proposals to promote energy efficiency and electricity demand reduction. 

“This Bill provides the radical reforms Britain needs to secure energy infrastructure that is fit for the 21st Century. 

“It is good for consumers, good for the economy and good for the environment”.

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Notes for Editors

1. Subject to Parliament, the Energy Bill is expected to achieve Royal Assent in 2013, so that EMR is fully up and running in 2014 as planned. The Bill has undergone a period of pre-legislative scrutiny by the ECC Select Committee since it was published in draft in May 2012.
2. All provisions in this Bill extend to England and Wales, and the majority will also extend to Scotland (apart from Clause 119 – Nuclear decommissioning costs). A number of provisions also extend to Northern Ireland.
3. The Energy Bill sets out measures to reform the electricity market, in order to keep the lights on, bills down and to reduce emissions. Read the press notice we issued on introduction of the Bill.

 

Source: http://www.decc.gov.uk/en/content/cms/news/sosst_energyb2/sosst_energyb2.aspx

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