EY comments on the government's draft energy bill
Bill Easton, Director of Utilities at EY, comments on the government's draft energy bill published today:
“Today’s draft bill is a crucial step as it signals the shift from a debate on policy direction into the details of policy execution. It is clear that the government has been listening hard to the industry and has accepted the need for an overall strategy and policy statement, as well as the need for transitional arrangements that can be activated quickly."
"The level of detail included in the bill and the supporting documents is testament to the complexity of electricity markets and indeed the challenges that still lie ahead. The detail provided starts to give generators a picture as to how the new arrangements will be administered and run and what they may mean for them. However, energy suppliers will be concerned about the lack of detail on future regulations and obligations that they may be required to accept."
“The critical challenge over the next 12 months is for the debate on market reform to converge on agreed and workable solutions."