Energy secretary Ed Davey assured businesses today that the upcoming Energy Bill – due for its second reading in early November – will unlock billions of investment in new infrastructure.
Davey said new powers in the Bill, such as more flexibilty in the consenting process and long term contracts guaranteeing prices for electricity, will help bring in new investment for low carbon energy projects.
“The coalition is absolutely committed to getting these reforms right, through legislation and through the signals we send,” he said, in a speech to business leaders group the CBI. “We have listened to investors and today have set out further measures to provide the certainty they need to make decisions that will benefit us all.”
Davey said the Department for Energy and Climate Change (Decc) has been approached by six wind and biomass developers for funding in the new arrangements planned in the Energy Bill.