Energy Policy, BRIEFING REPORT TO THE SECRETARY OF STATE FOR ENERGY Essay

Energy Policy, BRIEFING REPORT TO THE SECRETARY OF STATE FOR ENERGY AND CLIMATE CHANGE ON FACTORS TO CONSIDER IN THE PREPARATION OF A NEW ENERGY BILL FOR THE UK - Essay Example In addition, the reform advocates for contracts of investments especially long term contracts so as to enhance early investment before the CFD regime. The power purchase agreement is also embedded in the reform to enable access to the market while on the renewable transitional, the arrangements for the mandated scheme is catered for. The provision for limitation of carbon emission has not been left out in the provision of Emission Performance Standard (EPS) (2). The other acts in the bill entail regulation of nuclear, strategy and policy statement, and consumer protection. The regulation of nuclear power plants is aimed at providing safety and security. Furthermore, the consumer protection act minimizes the number of tariffs on energy to the locals. The act enables the Ofgem to extend its licensing to other parties besides the enforcement power on Ofgem to supervise the energy business that contravene licensing conditions on electricity and gas. If consumers suffer from the breach the Ofgem provides redress. Finally, the consumer protection act amended the legislation on energy conservation and warm homes (2). The bill did not elaborate more so on the consumer protection how to deal with the menace of the ever increasing fuel prices. It failed to provide regulations on the big energy firms whose dominance have apparently hampered competition. Kevin (1) questions where the locals’ money go to in the energy sector. He illuminates that in each household the average yearly bill for gas and electricity is approximately 1,270 pounds yet the payment is pegged on the consumption and payment method. Las year the average prices for electricity for UK was forth highest in the G7 member nations. In comparison to the US, their prices for electricity and gas were the lowest. The diagram below illustrates the pricing of gas in the 15 EU countries and US. The soaring prices have left more questions