A government draft energy bill published today, lays out plans aimed to guarantee prices for low-carbon electricity and pay producers for providing back-up supply when wind power falls short, according to the Department of Energy and Climate Change. DECC. It’s aimed at securing commitments from utilities to fund new atomic reactors and clean-power projects, curbing reliance on gas-fed plants. As the plan invites private sector to invest in building a new generation of nuclear power plants.
While the price of natural gas has been its lowest for many years in North America, thanks to technology known as fracking, which extracts gas trapped deep in the rocks, British energy consumers are paying one of the highest prices in Europe thanks to the madness of coalition government obsession with green energy targets that makes little economic sense. The news that Shale gas fracking operations should be allowed to resume in the Britain as long as “robust” measures are adopted to safeguard against future risks according to recommendation by an independent report had two contrasting receptions in two different camps.