Boston, MA -- (SBWIRE) -- 03/20/2014 -- With the long-awaited UK Energy Bill having entered into law, the coalition government is clearly hoping that it will provide a stable regulatory framework that will ultimately unlock GBP110bn of investment in the country's stalling power sector. While the bill has been criticised for being overly-complex and opaque, such investment is certainly needed at a time when thermal capacity is being shuttered at a rapid pace in order to comply with EU emissions criteria. Critically this capacity has not been replaced as utilities have been deterred from investing because of the questionable economics of gas-fired generation, at the same time as the issue of rising electricity prices has been used as a 'political football' by the main political parties - something that is likely to continue in the run up to the 2015 general election. While we have seen some promising activity in the nuclear segment, we note that proposed nuclear reactors will come online too late to replace shuttered thermal facilities - stoking fears of a capacity deficit in 2015 and 2016.
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