The UK government has urged MPs to back key energy legislation, claiming it will “provide the certainty low-carbon investors need” to stimulate decades of investment in the UK power sector.
Speaking ahead of the draft Energy Bill entering its report stage and third reading in the House of Commons on Monday and Tuesday, ministers insisted it was the solution to the “urgent challenge in keeping the lights on”.
The renewable energy industry, however, remains in pursuit of long-term signals of support such as a decarbonisation or green energy target for 2030.
DECC secretary Ed Davey said: “The Energy Bill will lead to a massive decarbonisation of the power sector by 2030 and will enable the UK to cut its economy-wide emissions by 50% by 2030.
“We are also legislating to set a decarbonisation target range for the power sector in 2016, something no political party had in their manifesto, but an issue that this government has addressed head-on.”
Davey said it would make the UK a destination of choice for investors in low-carbon energy, “stimulating £110bn private sector investment into the economy, which will drive growth and jobs”. He added: “It will also make our energy market fairer for consumers.”
Energy Minister Michael Fallon said: “By 2020 one-fifth of our oldest power stations will come off-line so we face an urgent challenge in keeping the lights on.”
He said “the Energy Bill is the answer”.