17 Mar '12, 12am

Ed Davey sets out measures to provide certainty to #gas investors

Electricity generated from gas still has an important role to play over the coming decades as we transition to a low carbon economy, alongside renewables and new nuclear, Edward Davey said today. The Energy and Climate Change Secretary set out measures to be included in the intended Electricity Market Reform legislation to provide certainty to gas investors: The level of the Emissions Performance Standard, designed to limit the emissions from individual plant, will be enshrined in primary legislation. Power stations consented under the 450g/kWh-based level would then be subject to that level until 2045, a process called ‘grandfathering’ which provides long-term certainty to gas investors. The Capacity Market will be designed to bring forward sufficient investment in new reliable capacity, including gas, in order to ensure security of electricity supply. This will help to e...

Full article: http://www.decc.gov.uk/en/content/cms/news/pn12_025/pn12_...

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