Energy Bill will provide investment certainty

Low carbon associations in the UK have welcomed the Government’s proposals for reforming the electricity market in the Energy Bill. The Carbon Capture and Storage Association (CCSA), the Nuclear Industry […]

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By Priyanka Shrestha

Low carbon associations in the UK have welcomed the Government’s proposals for reforming the electricity market in the Energy Bill.

The Carbon Capture and Storage Association (CCSA), the Nuclear Industry Association (NIA) and RenewableUK said the Bill provides investment certainty and give confidence to businesses. The groups are urging the Government to work together to ensure the UK “delivers its energy and industrial potential to the full”.

The reform is expected to help unlock billions of investment in low carbon generation, create thousands of jobs, increase the UK’s energy security and help meet climate change targets.

Keith Parker, Chief Executive of the NIA said: “The Bill provides much needed investment certainty. A major nuclear new build programme will lead to substantial industrial and employment benefits – including considerable opportunities for the UK nuclear supply chain and a boost for UK manufacturing and construction.”

Jeff Chapman, Chief Executive of the CCSA said the Bill would give “a good deal more confidence” to firms developing CCS projects.

Maf Smith, Deputy Chief Executive of RenewableUK said: “This Bill is crucial in setting the investment framework for the next 20 years and ensuring that we can build on our current world lead in offshore wind and marine technologies and guarantee clean domestic power and tens of thousands of green jobs”.

The groups claim over the next 10-15 years, they would help create around 95,000 jobs across all three sectors.