The Energy Bill gets the green light
In this year’s Queen’s statement to parliament it was revealed that the Energy Bill and its attendant electricity market reforms have been given the green light. So what effect will the Energy Bill have on the low carbon economy, not to mention the UK’s energy crisis, asks voltage optimisation provider EcoAdapt (http://www.ecoadapt.co.uk)?
Just one single line in the Queen’s speech represents the biggest reform of the UK’s energy market for more than twenty years. Her Majesty promised that her government will “propose reform of the electricity market to deliver secure, clean and affordable electricity, and ensure prices are fair”. The proposals behind this highly important piece of legislation are designed to drive up to £200bn of investment and create tens of thousands of jobs.
If successful, the bill could be massively positive, not just for the UK’s energy industry but also for it’s wider economy. Carbon emissions could be significantly reduced, it could end our reliance on oil and fossil fuels, we could benefit from both cleaner air and the creation of more green jobs, all the time paving the way for a new low carbon economy.
In theory, the Energy Bill is very much in line with energy saving technology such as the voltage regulators designed by EcoAdapt, in that its goal is carbon reduction while also seeking to reduce electricity costs for the consumer. However, we will have to wait until the bill is finalised and put into action, likely to be autumn at the earliest, before we can tell quite how far-reaching this legislation is in actuality.
Keep up to date with industry news, from the latest legislative changes to advances in energy saving technology, at the EcoAdapt website at http://www.ecoadapt.co.uk.
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