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Queen’s Speech Outlines New Energy Bill In UK

28 May 2010 | Filed under: Energy, News

The Queen’s speech has outlined plans for a new energy bill in the UK, which aims to put in place a framework to deliver a future with low carbon energy supplies and fair competition in the energy markets. The bill also intends to provide a step change in the provision of energy efficiency measures to homes and businesses.

The main elements of the bill include implementation of a ‘green deal’ to deliver energy efficiency to homes and business, delivering a framework including potential incentives to energy suppliers and households that will transform the provision of energy efficiency in the country by enabling a ‘pay as you save’ approach.

The bill may introduce powers to regulate the emissions from coal-fired power stations, reform energy markets to deliver security of supply and ensure fair competition, and put in place a framework to guide the development of a smart grid that will revolutionize the management of supply and demand for electricity.

The bill may also contain measures to ensure that North Sea infrastructure will be available to all companies to ease the exploitation of smaller and more difficult oil and gas fields. In addition, the government may legislate to set up a Green Investment Bank.

Chris Huhne, secretary of energy and climate change, UK, said: “The energy bill is designed to help consumers put a stop to wasting energy in their homes through a green deal while making sure our energy system is fit for the 21st century.”

Source: Energy Business Review