Energy Bill (Paperback)

This Bill establishes a legislative framework aimed at allowing us to meet our legally binding carbon reduction and renewable energy obligations and bring on the corresponding investment required. With a fifth of the UK's electricity generating capacity due to close this decade, reforms are needed to provide certainty to investors to bring forward GBP110 billion investment in new infrastructure to meet energy requirements and continue the shift to a diverse, low carbon economy as cheaply as possible. Electricity market reform, the cornerstone of Bill and covered in part 1, was first set out in a white paper in July 2011 (available http://www.decc.gov.uk/en/content/cms/legislation/white_papers/emr_wp_2011/emr_wp_2011.aspx). That part includes provisions on contracts for difference and investment contracts, the capacity market, liquidity and market access, institutional arrangements in relation to the delivery of these schemes, a transition to a certificate purchase scheme; and an emissions performance standard for new fossil-fuel plants. Part 2 of the Bill establishes the Office for Nuclear Regulation; part 3 covers the Government Pipe-line and Storage System (GPSS); and part 4 covers the Strategy and Policy Statement to create regulatory certainty