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| Chris Huhne unveils plan for £110bn energy investment | |
| (40 minutes later) | |
| Plans for £110bn of investment in electricity generation have been unveiled in a White Paper by the Energy Secretary, Chris Huhne. | Plans for £110bn of investment in electricity generation have been unveiled in a White Paper by the Energy Secretary, Chris Huhne. |
| Under the plan, a quarter of the country's power stations would be replaced by 2030, Mr Huhne said. | Under the plan, a quarter of the country's power stations would be replaced by 2030, Mr Huhne said. |
| It also aims to insulate the UK from swings in oil prices by increasing nuclear and renewable energy sources. | It also aims to insulate the UK from swings in oil prices by increasing nuclear and renewable energy sources. |
| Shadow energy secretary Meg Hillier said the White Paper was a "mixed bag of measures". | Shadow energy secretary Meg Hillier said the White Paper was a "mixed bag of measures". |
| Speaking in the House of Commons, Mr Huhne said: "We need to guarantee the future security of supply." | Speaking in the House of Commons, Mr Huhne said: "We need to guarantee the future security of supply." |
| Earlier, Mr Huhne had told the BBC that claims the cost of the investments would hurt consumers were misplaced. | Earlier, Mr Huhne had told the BBC that claims the cost of the investments would hurt consumers were misplaced. |
| He pointed to recent rises in utility bills by British Gas and Scottish Power, claiming that these companies had already imposed a cost on consumers in one day similar to what the investment programme would involve over several years. | He pointed to recent rises in utility bills by British Gas and Scottish Power, claiming that these companies had already imposed a cost on consumers in one day similar to what the investment programme would involve over several years. |
| "[The White Paper] provides insurance for consumers against that sort of shock," he said. | "[The White Paper] provides insurance for consumers against that sort of shock," he said. |
| 'Keep the lights on' | 'Keep the lights on' |
| A key recommendation of the paper is long-term price contracts with domestic nuclear power plants and offshore windfarms, in order to make electricity prices more stable. | A key recommendation of the paper is long-term price contracts with domestic nuclear power plants and offshore windfarms, in order to make electricity prices more stable. |
| The Department for Energy and Climate Change said that its investment plans would cost £160 per household per year by 2030. | The Department for Energy and Climate Change said that its investment plans would cost £160 per household per year by 2030. |
| In contrast, the Department said that if the system remained unchanged, then electricity bills would go up by £200 a year over the same period. | In contrast, the Department said that if the system remained unchanged, then electricity bills would go up by £200 a year over the same period. |
| "It means that we keep the lights on," Mr Huhne told BBC Breakfast. "Because we are replacing a quarter of our clapped-out electricity generation." | "It means that we keep the lights on," Mr Huhne told BBC Breakfast. "Because we are replacing a quarter of our clapped-out electricity generation." |
| The planned investment is equivalent to 20 large new power stations, double the pace seen in the last decade. | The planned investment is equivalent to 20 large new power stations, double the pace seen in the last decade. |
| It aims to raise the share of renewable energy sources to 30% of electricity generation by 2030, from 7% currently. The government also foresees new nuclear power stations being built as well. | It aims to raise the share of renewable energy sources to 30% of electricity generation by 2030, from 7% currently. The government also foresees new nuclear power stations being built as well. |
| It would also see the building of new coal-powered generators with technology to capture carbon emissions, as well as new gas-fired power stations. | It would also see the building of new coal-powered generators with technology to capture carbon emissions, as well as new gas-fired power stations. |
| Natural gas is regarded as cleaner than other fossil fuels, and gas prices are expected to remain cheap thanks to the development of shale-gas deposits in the US, coupled with the growing international trade in liquefied natural gas. | Natural gas is regarded as cleaner than other fossil fuels, and gas prices are expected to remain cheap thanks to the development of shale-gas deposits in the US, coupled with the growing international trade in liquefied natural gas. |
| What do you think of the government's plans? Are you worried about fuel and other energy costs? Send us your comments and experiences using the below. | What do you think of the government's plans? Are you worried about fuel and other energy costs? Send us your comments and experiences using the below. |