Queen’s Speech outlines Energy Bill and Green Investment Bank

The Queen delivered a speech on Wednesday 9 May to formally open parliament for the 2012-13 session outlining the government's legislative agenda. The speech confirmed the government's plans for the Electricity Market Reform would be brought before parliament during the next year. The Queen said an Energy Bill will be proposed "to deliver secure, clean, and affordable electricity, and ensure prices are fair". The speech also confirmed the government's intention to launch a Green Investment Bank as part of an Enterprise and Regulatory Reform Bill.
Following the Queen's Speech a spokeswoman for the Department of Energy and Climate Change (DECC) said the Energy Bill was "crucial legislation" that would "keep the lights on and emissions down" in a more cost-effective way. The spokeswoman hoped the measures would provide investors with long-term certainty and incentives to invest in low-carbon technology. She said DECC "will shortly publish a draft bill for pre-legislative scrutiny" and the legislation should be entered onto the statute book by 2013 so that low-carbon projects can be supported the following year.
Parliament     DECC

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