UK energy market reform plans must be more ambitious | Tim Yeo (Guardian)
Ministers are tinkering at the margins of the electricity market instead of bringing forward the radical reforms that are needed The UK is at a critical juncture in the way it uses energy. More than £100bn of investment is needed by 2020 to replace our ageing power stations, cut carbon emissions, upgrade the grid and create new incentives to make this happen. Government proposals for electricity market reform were published for consultation in December and the cross-party Committee on Climate Change has looked at the plans in detail. This Monday we publish our verdict. The proposals are a start, but the the government still has a long way to go. We fear that the plans will fail to attract the necessary investment in the electricity sector by 2020 and we will miss this opportunity to put the UK at the forefront of a worldwide revolution in low-carbon energy ? one that could bring considerable competitive advantages. We have already seen a drop in investment for clean energy in the UK as the industry holds its breath waiting for greater clarity from the coalition. After coming fifth in the world ranking for clean energy investment in 2009, ...Share With Friends: | | Politics - Top Stories Stories, RSS and RSS Feed via Feedzilla.
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