B825 - Energy Market Reform Bill 2015 (Second Reading) Watch

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Birchington
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B825 - Energy Market Reform Bill 2015 (Second Reading), TSR Labour Party

Energy Market Reform Bill 2015
An Act to strengthen the British energy market by increasing storage capacity and promoting renewable energy
BE IT ENACTED by The Queen's most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:-

1: Definitions
(1) "Green Industry" is defined to be the area of business that is focused on sustainable energy and the reduction of environmental damage.
(2) Tax Credits allow companies to reclaim up to 50% of capital costs and R&D costs associated with a project that has been granted 'priority status' by the DECC.
(3) "Renewable energy sources" is defined as sources of electrical energy derived from naturally occurring resources and which do not deplete the source as energy is produced.

2: Implementation
(1) Introduce £500 million tax credits for companies which wish to build Gas Storage Terminals
(2) Mandate OFGEM to ensure the private sector has the equivalent of 50 days of gas reserves at all times.
(3) Commit £500 million in Interest free Loans and a further investment £1 for each £20 the private sector invests in the Severn Barrage project up to a maximum of £1000 million
(4) Introduce a £100 million grant for British Universities to be awarded on a competitive basis for research into nuclear energy and nuclear technology
(4) Introduce a £100 million grant for British Universities to be awarded on a competitive basis for research into non-nuclear renewable energy sources.

3: Commencement, Short Title and Extent
(1) This Act may be cited as the Energy Market Reform Act 2015.
(2) This Act shall extend to the United Kingdom; and
(3) Shall come into force on the 1st of January 2016.


NotesNuclear Energy is a secure and viable source of energy to meet the energy demands of the United Kingdom in the medium term whilst other forms of renewable energy become more competitive in the long term.

http://www.ukoog.org.uk/knowledge-ba...t-its-gas-from
http://en.wikipedia.org/wiki/Energy_...7energy_gap.27
http://www.telegraph.co.uk/finance/n...acilities.html
http://www.timera-energy.com/content...astructure.jpg
http://www.ft.com/cms/s/0/9bc03bb6-2...#axzz3b0NFFlz2

Some experts have suggested the UK will face a energy gap in the winter of 2015. To address this this government aims to increase storage capacity of gas and make it easier to import gas from non-Russian sources.

This will be funded from the existing £2.7 billion DECC capital budget.


Changes made for 2nd reading
- Reduction in Green Levies removed
- Tax Credits for companies to produce LNG terminal removed
- Grants for renewable energy research introduced
- 3rd definition added to section 1
- minor changes to wording
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RayApparently
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Mr Speaker it doesn't look like the changes (for 2nd reading) have been added.
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Jammy Duel
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Is this not a second reading?

regardless, nay, I would like my bills to go down, not up.
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Aph
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Nay
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RayApparently
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Birchington
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Andy98
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I said nay to this last time, so I'll say it again

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Birchington
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(Original post by RayApparently)
Birchington
The thread has been updated to include the second reading.
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Jammy Duel
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Oh god, the changes make it even worse.
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James222
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An excellent bill
Introducing a game changer in terms of changing the energy mix of the UK

In particular I hope the removal of cuts to green levies gets cross party support otherwise we may need to change the bill again to find alternative backers which may not be as green
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Wellzi
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Aaaaaand still a nay.
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Saracen's Fez
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This is a much better version of this bill.
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thehistorybore
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Nay.
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Aph
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(Original post by James222)
An excellent bill
Introducing a game changer in terms of changing the energy mix of the UK

In particular I hope the removal of cuts to green levies gets cross party support otherwise we may need to change the bill again to find alternative backers which may not be as green
:rolleyes: great threat there isn't it? If anything you just lost votes by saying that they gaining them:dots:
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James222
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(Original post by Aph)
:rolleyes: great threat there isn't it? If anything you just lost votes by saying that they gaining them:dots:
Im sorry have i threatened you or your family ?
This is merely real politik, I want to build this project and looking for like minded parties to work with. Its only natural the next version of this bill will be different
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Aph
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(Original post by James222)
Im sorry have i threatened you or your family ?
This is merely real politik, I want to build this project and looking for like minded parties to work with. Its only natural the next version of this bill will be different
You threatened the greens that we either accept your offer or you go 'sod the environment'
Very passive aggressive though, well done... I see you are becoming a true labourite:yep:
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RayApparently
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(Original post by Aph)
You threatened the greens that we either accept your offer or you go 'sod the environment'
Very passive aggressive though, well done... I see you are becoming a true labourite:yep:
You really can't contain yourself can you?
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username456717
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Aye!

A good bill.
That Bearded Man
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(Original post by Aph)
:rolleyes: great threat there isn't it? If anything you just lost votes by saying that they gaining them:dots:
It's not going to quell global warming but your disagreement with small improvements to promote renewables is indeed very bizarre.
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RayApparently
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The energy market needs modernising and this goes some way to ensure Britain's future energy security. Of course there's much more we can do.
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Aph
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(Original post by That Bearded Man)
It's not going to quell global warming but your disagreement with small improvements to promote renewables is indeed very bizarre.
£100m is pitiful... And if we have an energy problem over winter we just import electricity from France and/or Norway...
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