U.K. Energy Decisions Have to be ‘Bottom Up’
The upcoming Energy Bill from the U.K. government will embody the “certainty and confidence” businesses need to invest in the nation’s power infrastructure, said newly-appointed energy minister John Hayes.
The long-awaited legislation, which will be published in weeks, is expected to offer stable prices for low-carbon electricity through feed-in tariffs with contracts for difference. The aim is to provide investor clarity for clean energy projects. Speculation over details of the bill [a draft was published May 22] has caused energy companies like Siemens AG and Alstom UK to announce that the “level of political risk” could prevent them from investing further in the nation.