Looks like a part of 110 billion will be coming the Fuel cells way...doesnt say directly but if you read the fine print about gas imports 'the critics say the reforms will result in significantly higher energy bills for consumers and won't reduce the U.K.'s dependence on gas imports."
DJ UK Government Publishes Long-Awaited Draft Energy Bill 22 May 2012 - 11:24 LONDON -(Dow Jones)- The U.K. government Tuesday published its long-awaited draft Energy Bill, which contains mechanisms and incentives designed to encourage some GBP110 billion investment in low-carbon energy such as offshore wind and new nuclear power stations.
With around a quarter of the U.K.'s power generating capacity closing by the end of the decade as aging nuclear and old coal plants are shuttered, the legislation is part of government plans to keep the lights on while meeting binding climate change targets.
But critics say the reforms will result in significantly higher energy bills for consumers and won't reduce the U.K.'s dependence on gas imports.
The legislation represents the biggest shake-up of the U.K.'s electricity market since privatization in the 1990s made it one of the most liberalized energy markets in the world.
The Bill includes incentives for low-carbon power generation as well as a mechanism to support the gas plants needed as back up when intermittent renewables such as wind aren't generating. It will also introduce an emissions cap for power plants to ensure that new coal-fired power plants aren't built without carbon capture and storage technology.
But there is still a lot of work to be done pinning down the details before many companies can take their final investment decisions on the costly projects that will play a significant role in the U.K.'s low-carbon generation.
CFU Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
