Energy and Climate Change Secretary Edward Davey announced that £10 million will be available this year to improve efficiency and reduce energy demand.
Mr Davey told the CBI that the changes were part of the Government’s strategy to create an energy secure, energy efficient economy.
The report published on 17 July 2014 shows that energy projects make up around 60% of the UK’s total infrastructure project pipeline – worth around £200 billion in its entirety. The UK remains one of the most attractive places in the world to invest in renewable energy, according to Ernst and Young, 15% of Britain’s electricity now comes from renewable sources.
To further improve energy security and to deal with the problem of tightening electricity margins up to 2018, the Government has announced safeguards to ensure more electricity is available at peak times and to allow mothballed plants to be used if necessary.
Mr Davey has written to Ofgem (who regulate the electricity and gas markets in Great Britain), informing them that the Department of Energy & Climate Change will be reviewing the implementation and enforcement of the Electricity and Gas Regulations 2011. The new regulations are expected to come into force in early 2015 (subject to Parliament).
About Electricity Demand Reduction Pilot Project (EDR)
All sectors of the economy across Great Britain can take advantage of the EDR project. It aims to study whether efficiency projects can compete in the forthcoming Capacity Market – and offers the chance for Organisations to bid for funding for projects which will replace inefficient kit with new.
This has carbon, security of supply and cost benefits. Organisations can bid in for money for their savings in winter peak 2015/16 but they’ll save money whenever they use the new kit. The pilot project will run for two years and will help Department of Energy & Climate Change analysis data and design an enduring scheme.
For further information visit Gov.uk.
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