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Budget
24 March 2010
The Government has published alongside Budget the interim report of the Energy Market Assessment, which was launched at PBR 2009. This report sets out the Government's initial conclusions on the capacity of the electricity market to deliver clean, secure and affordable supplies of electricity in the long-term. The energy market in Britain has delivered significant benefits for businesses and households over the past 20 years. It is already delivering investment in the new infrastructure necessary to decarbonise and ensure continued security of supply to 2020. But the challenges of the decades ahead will be significant as the UK seeks to move to a low carbon economy.
The Government must therefore ensure that the right choices are taken for the long-term so that the UK can meet its 2050 climate change objectives. The initial conclusion of the Energy Market Assessment is that the current market framework will need further reform if it is to deliver the necessary investment beyond 2020. The report sets out a number of options for reform, and further work will be undertaken to assess these options against criteria of cost-effectiveness, affordability and stability. The Government will seek to consult on proposals in autumn 2010, with final conclusions being set out in a White Paper in spring 2011.
Energy Market Assessment is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
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