OREANDA-NEWS. May 11, 2012. National Grid has welcomed the announcement in the Queen’s Speech today that the Energy Bill will be brought before parliament during the 2012-13 session.

The company believes it represents an important step forward in helping the country towards a future with low carbon electricity generation and a secure and affordable energy supply.

The Energy Bill contains proposals for Electricity Market Reform – including introducing a Capacity Mechanism and Feed in Tariffs with Contracts for Difference, for both of which National Grid is the designated delivery organisation.

Welcoming the news, National Grid Executive Director, UK, Nick Winser said: “The generation mix is changing and we need to encourage effective investment in the energy industry to keep costs down for consumers.

“National Grid is well placed and has the expertise to deliver the mechanisms outlined in the technical paper. There is a lot of work to do to ensure we are ready to deliver these mechanisms and we remain committed to playing our part and working closely with DECC, the energy industry and other stakeholders to ensure they are delivered on time.”