Ed Miliband Admits His Energy Policy Won't Deliver
The Government is drawing up plans for a wholesale reform of Britain’s energy markets that could wind back the clock on 12 years of deregulation.
In an interview with The Times, Ed Miliband, the Energy and Climate Change Secretary, said that Britain’s existing, highly liberalised market regime, introduced under Labour in 1998, was failing to deliver the investment needed to cut UK carbon emissions by more than a third by 2020.
Mr Miliband said: “We are going to need a more interventionist energy policy to deliver the low-carbon investment we need.”
Mr Miliband said that big reforms would be essential to deliver the estimated £170 billion of investment to meet its goals of huge carbon cuts.
He said that one alternative would be a return to “capacity payments” — in which power station operators would be paid for the electricity they generate and also for capacity made available. The idea of such payments is to give greater certainty to investors in renewable and nuclear energy. They would help to bolster the reliability of a grid that was more heavily reliant on power generation from wind farms.
A huge expansion of wind power is expected to have a big impact on the reliability of the national grid, which capacity payments could help to offset. Wind energy is intermittent and heavily reliant on back-up power generation for use when it is not blowing.
Carbon Cuts; Carbon Cuts; Wind; Carbon Cuts; Whoops it doesn't bloody work, the lights are going out.
Solution, more of the same!