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The Low Carbon Economy Ltd

02 Aug 2010 05:08:03

Market 'will decide success of low carbon technologies'

Market 'will decide success of low carbon technologies'
The secretary of state for energy and climate change has said that it will be "up to the market to decide" which low carbon technologies replace fossil fuels.

In an interview with the BBC's AM Show on Sunday, Chris Huhne said that while there will be no government subsidy for new nuclear development, it is likely that the technology will play a part in the UK's low carbon future as private bodies will be willing to invest.

Mr Huhne said that prices for electricity are not likely to be fixed to provide an indirect subsidy from the government; however, the technology is likely to benefit from the existing network to boost low carbon power.

He told the news provider: "What nuclear will have access to in some way, like all other forms of low-energy technology is the advantage of not paying through the European Union emissions trading scheme."

A report released recently by KPMG suggested that nuclear power is essential for the UK to meet its carbon reduction targets.

The document also said that the government needs to create a more "consistent design" to reward the generation of low carbon energy. ADNFCR-1235-ID-800010609-ADNFCR

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