Old coal and nuclear power stations are coming to the end of their lives. We face a race against time to ensure our energy security. We need to secure £110billion of investment in a secure, diverse and low carbon power mix. It is a huge challenge, but an equally huge opportunity, with the Coalition’s reforms to the electricity market having the potential to support a quarter of a million jobs, many of these highly skilled. New nuclear, gas-fired power stations, carbon capture and storage and renewable energy will bring new investment to all parts of the country, developing supply chains which won’t just serve the UK market, but the global market too. [Block quote added 7.45pm, 11.10.12]
From Powering the Nation, article by Energy Minister John Hayes for DECC
A number of unanswered questions within that paragraph, such as why don't we prevent the closure of the older power stations until we are sure we can manage without them.? Where is £110 billion coming from? What reforms to the energy market- smart meters? No thanks. A quarter of a million jobs- ever heard of Bastiat? CCS?- it doesn't work.....and so on.
[Update: figure on last paragraph corrected to £110 billion, 5.00pm]