EDF Energy response to proposed reforms to Capacity Market
EDF Energy CEO Vincent de Rivaz said:
“The Government’s proposed reforms to the Capacity Market represent an important step to ensure the UK continues to have a secure and affordable supply of electricity. EDF Energy believes that a well-functioning and technology-neutral Capacity Market is an effective policy to provide consumers and businesses with the reliable and secure energy they need. It is a key element of Electricity Market Reform alongside measures to address the need for investment in low carbon electricity which include Contracts for Difference and a strong Carbon Price Floor.
“The proposed reforms recognise the extremely challenging market conditions which are affecting the economics of power generation.
“EDF Energy welcomes the Government’s continuing commitment to maintain and strengthen measures like the Capacity Market. We will carefully study all of the proposed reforms in order to engage constructively with the consultation ahead.”
EDF Energy is one of the UK’s largest energy companies and the largest producer of low-carbon electricity, producing around one-fifth of the nation's electricity from its nuclear power stations, wind farms, coal and gas power stations and combined heat and power plants. The company supplies gas and electricity to 6 million business and residential customer accounts and is the biggest supplier of electricity by volume in Great Britain.
EDF Energy’s safe and secure operation of its eight existing nuclear power stations at sites across the country makes it the UK’s largest generator of low carbon electricity. EDF Energy is also leading the UK's nuclear renaissance and has published plans to build four new nuclear plants, subject to the right investment framework.
These new plants could generate enough low carbon electricity for about 40% of Britain’s homes. They would make an important contribution to the UK’s future needs for clean, secure and affordable energy. The project is already creating business and job opportunities for British companies and workers.
Through Our Better Energy Ambitions, EDF Energy has developed one of the biggest environmental and social programmes of any British energy company.
In 2014 EDF Energy received seven ‘Big Ticks’ in the Business in the Community (BITC) Responsible Business Awards. In 2013 EDF Energy received the Environmental Leadership for Behavioural Change Award in the national Environment and Energy Awards and was highly commended in the first ever pan European Corporate Social Responsibility Awards scheme for its Sustainable Schools programme – the Pod.
EDF Energy is part of EDF Group, one of Europe’s largest power companies. The company employs around 15,000 people at locations across the UK.
To find out more about the UK's energy challenges look at www.edfenergy.com/energyfuture/