KEY PLAYER IN ENERGY SECURITY - GOVERNMENT (THE UK ENERGY BILL 2012)

KEY PLAYER IN ENERGY SECURITY - GOVERNMENT (THE UK ENERGY BILL 2012)

1. By 2020, more than £7.5bn available to invest in non-carbon generation

   • Households will pay more - 10% bills going towards renewables
     • Average of an extra £95/year bill
       • Ed Davey says this is cost effective in the long term as price of fossil fuels rises and cost of renewables goes down

2. No 2030 target to decarbonise supply - revisited in 2016

3. Businesses have no reassurance about security of long-term returns on investments made today - could jeopardise investment in offshore wind

4. Gas fired power stations with 40 year lifespan guaranteed - belief that global gas prices will fall and cost cushioned by fracking

5. Return to nuclear

6. No commitment to cutting energy consumption

   • UK expecting a two thirds rise in demand (Germany - Europe's manufacturing heartland - projecting a decline of one quarter)