Market reform 'will make UK more attractive to investors' - 18/07/2011
The launch of the government's White Paper on energy market reform (EMR) could help energy comparison customers find cheap energy bills in the coming years by making the UK more attractive to investors.
Matthew Spencer, director of Green Alliance, noted that the publication "moves the UK from having an offer on renewables to having contracts on renewables, and that will de-risk investment in renewable energy significantly".
He said the target to derive 15 per cent of the country's energy from green sources by 2020 is still viable, "but it's harder all the time because of the hiatus created by EMR and the additional competition we're getting, particularly from Germany, in investment in offshore wind".
"I've no doubt that the UK can get 15 per cent of its energy from renewables, and offshore wind in the UK could be a global platform for the technology," Mr Spencer added.
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