The Bill will put in place a legal framework to transform our electricity market from fossil fuel dependent to low carbon by 2030. The Liberal Democrats believe that this will help achieve legal obligations to meet the 2020 European renewables target and to reduce emissions by 80% by 2050 – as set out in the Climate Change Act, which was supported by all parties in 2008.
The reforms have been worked on for two years by two Liberal Democrat Secretaries of State, Chris Huhne and Ed Davey. The Bill will bring in an estimated £110bn investment and support an estimated 250,000 jobs in the clean electricity industry and supply chain.
Commenting, Lynne Featherstone MP said:
“Liberal Democrats in the Coalition Government have secured a good deal for households who are worried about rocketing energy bills, and also secured a good deal for the environment by making sure we will finally move from fossil fuel to low carbon.
“Despite the arguments of those who would rather ignore the need to deal with climate change, the Lib Dems have delivered a policy that means the UK will honour our legally binding climate change targets, keep the lights on and do it at the lowest cost to bill payers.”
Further information on the Energy Bill here