Ed Davey responds to the European Commission’s ruling on state aid

Posted on 24 Jul 2014 by The Manufacturer

Ed Davey, Energy and Climate Change Secretary, has responded to the European Commission’s ruling on state aid for the Capacity Market, CFD for Renewables and 5 FID Enabling for Renewables offshore wind projects

Davey stated: “This is great news, and shows that our major reforms to the electricity markets are urgent and needed to turn around the historic neglect of the sector.”

He continued: “We are the world leader in investment for low-carbon energy and energy security. The average annual investment in renewables has doubled since 2010 – with a record breaking £8bn worth in 2013. And we’ll continue to lead in building a low-carbon electricity sector based on homegrown energy sources, reducing our reliance on polluting fuels and volatile energy markets at the lowest possible cost to consumers.”

The government had been braced for the ruling from Brussels that would influence the fate of billions of pounds in investment in low-carbon energy policies.