Energy bill reaction from MP

Published on Thursday, 29 November 2012 15:01
Posted by Scott Buckler

Reacting to the Energy Bill (and the Government response to the Committee's report on the Bill) published today, Tim Yeo MP, Chairman of the Energy and Climate Change Committee said..

"I welcome the Government's response to my Committee's report and am pleased that there have been some significant changes to the Bill as a result. However, there is still room for improvement."

"It is disappointing that DECC is only launching its consultation on electricity efficiency today, when my Committee has been calling for stronger action on efficiency for many years."

"I am pleased that Ministers have seen sense on having a single counterparty to guarantee new energy contracts, but if the Treasury wants to deliver the best deal for consumers it should use the Government's triple AAA rating to back the contracts directly. This would lower the risk for investors and reduce capital costs, keeping the overall bill for energy investment down."

"I am also concerned that National Grid will face conflicts of interest in its role as delivery body for these reforms. I believe this role should be performed by a new, independent, not for profit company."

Source: ©EAC

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