U.K. Plans Rules for Capacity Market, Contracts-for-Difference

Jun 23, 2014 10:20 am ET

June 23 (Bloomberg) -- The U.K. proposed further rules for how the country’s incentives for low-carbon electricity and a planned capacity market will work as part of a program to reform the electricity market.

Secondary legislation fleshing out government reforms of the power maket that were approved in last year’s Energy Act were put before Parliament today, the Department of Energy and Climate Change said today in a statement on its website.

The government estimates the new rules will spur 100 billion pounds ($170 billion) of energy investments in the U.K. through 2020, supporting as many as 250,000 jobs in low-carbon electricity production.