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Providing certainty to UK gas investors Electricity generated from gas still has ...

Providing certainty to UK gas investors Electricity generated from gas still has an important role to play over the coming decades as we transition to a low carbon economy, alongside renewables and new nuclear, UK Energy and Climate Change Secretary Edward Davey said in mid-March, setting out measures to be included in the intended electricity market reform (EMR) legislation to provide certainty to gas investors: The level of the emissions performance standard, designed to limit the emissions from individual plant, will be enshrined in primary legislation. Power stations consented under the 450 g/kWh-based level would then be subject to that level until 2045, a process called ‘grandfathering’ which provides long-term certainty to gas investors. The capacity market will be designed to bring forward sufficient investment in new reliable capacity, including gas, in order to ensure security of electricity supply. This will help to ensure that there is sufficient capacity in place to cope with peaks and troughs in demand. Davey also announced plans to publish a new gas generation strategy in the autumn, which will focus on ensuring security of supply by setting out any necessary government interventions needed to address barriers to investment in gas generation. Ahead of this, a call for evidence will be issued shortly to invite views from industry and investors.
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