As part of her speech to Parliament yesterday, Her Majesty the Queen introduced Electricity Market Reform to encourage more investment in low carbon generation and clean energy.

The Queen said: “My Government will propose reform of the electricity market to deliver secure, clean and affordable electricity and ensure prices are fair”.

The Electricity Market Reform will put more restrictions on the emissions of new coal plants and create a new independent regulator, the Office for Nuclear Regulation, which will be funded by the industry, the BBC reported.

The Renewable Energy Association welcomed proposals for new energy bill. It said said that the industry will need to know its details as soon as possible in order to adjust and protect developers in the renewable sector.

Chief Executive of the REA, Gaynor Hartnell, said: “The new arrangements aim to deliver a stable price for renewable electricity generators, irrespective of what happens to electricity prices. If all works as intended, it should make project development less risky and means that the public pays no more than it needs to for green power.”

What is your reaction to the Queen’s speech? How do you think the proposed reform will help you or your business? Share your thoughts by leaving a comment below: