The Department of Energy and Climate Change has today (29 November) published the government’s draft Energy Bill. This sets out reforms to the design of the electricity market, aimed at bringing forward substantial new low-carbon investment. In particular, it sets out plans for Contracts for Difference (CfDs) for low-carbon electricity generation, aiming to stabilise revenues for projects with large upfront capital costs. The Government will also take powers to set a decarbonisation range for the power sector for 2030, for which a decision will be returned to in 2016. Alongside the draft bill, the Government has also published a number of other documents including its Annual Energy Statement, an Impact Assessment looking at the costs and benefits of measures in the Bill, and Energy Security Strategy, and consultation on Energy Demand Reduction.
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