EDF Energy responds to the Government’s announcement on Energy Policy
The introduction of the Energy Bill next week is a very positive step and further demonstrates the growing momentum towards providing the country with secure, affordable low carbon energy. It will give further clarity for investors. Robust, long term and well-constructed Contracts for Difference with a single counterparty have the potential to help unlock significant investment and jobs in major new UK infrastructure projects. A capacity market will help assure the balance between customer demand and available supply. We now look forward to seeing further details.
Our own project aims to build two new nuclear reactors in Somerset. Our objective is to have all the components in place around the end of the year to allow the final investment decision at the earliest possible date. It offers immense benefits for the country for jobs and skills. We’re encouraged to see firm government commitment to the decarbonisation of the UK’s energy and clarity over the operation of the levy control framework. This is essential in helping transform our electricity market and driving greater economic growth.
EDF Energy CEO Vincent de Rivaz said: “We recognise the Government’s continued commitment to deliver the timetable for electricity market reform, including legally robust arrangements for much needed projects during the transition. This is good news and a significant step toward providing secure low carbon energy for the UK for many years to come”.