White paper states that an investment of £110bn is required over the next 40 years
The nuclear new-build industry has reacted positively to the government’s reform package for the UK electricity market as set out in the Electricity Market Reform white paper. Published this week, the white paper confirmed the carbon floor price announced in the 2011 Budget.
The white paper states that an investment of £110bn is required over the next 40 years to build the equivalent of 20 large power stations to update the UK’s ageing networks.
Jon Dedman, head of energy at Davis Langdon, believes the package was a good one for investors.
“This white paper provides a platform to allow a sound investment in renewable energy,” he said. “Investors will be buoyed by the government’s commitment to fixed incentives.”