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Renewable energy development could lead to higher electricity bills, say MPs
A cross-party Westminster committee fears the shake-up might fail to deliver change and called for an "urgent rethink" of ministers' proposals.
The draft Energy Bill would create a system of long-term contracts to give power companies a guaranteed price for the low-carbon electricity they produce.
July 23, 2012
in London Evening Standard
Government plans to revamp the electricity market could lead to higher bills, less competition and put off investors, MPs said today.
A cross-party Westminster committee fears the shake-up might fail to deliver change and called for an "urgent rethink" of ministers' proposals.
The draft Energy Bill would create a system of long-term contracts to give power companies a guaranteed price for the low-carbon electricity they produce.
The move is intended to cut the risk of investment in expensive projects with high up-front costs, such as nuclear reactors and offshore wind farms.
But firms capable of building the infrastructure maybe be deterred because the Treasury... [continue via Web link]
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