16 May '11, 12am

MPs send electricity market reformers back to the drawing board

MPs will today urge the Department of Energy and Climate Change (DECC) to completely rewrite its plans to reform the electricity market into a "straightforward and coherent" strategy that will decarbonise the energy sector at minimal cost to customers. A report by the influential Commons Energy and Climate Change Committee will say that DECC's current Electricity Market Reform (EMR) proposals, designed to attract investment in low-carbon generation, are over-complex, potentially expensive and fail to recognise the urgency of the changes required. "The proposed reforms would not do enough to attract the £110bn investment needed in the electricity sector in less than a decade, and they miss the chance to put the UK at the forefront of innovation and competition," the report says. "Without that investment, the UK will not meet its decarbonisation and energy security targets."...

Full article: http://www.businessgreen.com/bg/news/2070809/mps-send-ele...

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