Investor confidence will be shored up by the latest update on plans for the electricity market shake-up say energy industry experts.
Yesterday, Energy Secretary Chris Huhne revealed more detail on work to enable investment decisions for early projects in the EMR. David Porter, chief executive of the Association of Electricity Producers cautiously hailed the news as a “step in the right direction to getting the investment needed to replace old power stations.”
He added: “The details announced will help to provide companies and investors with the confidence to make the £200 billion worth of investment in energy infrastructure in the next nine years.”
EDF Energy boss Vincent de Rivaz agreed DECC’s announcement was “a very positive step”, especially for its nuclear programme. The French energy supplier has plans for four new UK plants in the pipeline with its partner Centrica. Mr de Rivaz said: “We believe these arrangements, once details are finalised, are going to be crucial to allow us to take a Final Investment Decision on new nuclear at the end of next year.”