Contractors pin hopes on electricity work surge

Grant Prior 13 years ago
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Contractors hope reforms of the electricity market unveiled by the Government yesterday will lead to £110bn of investment during the next decade in new power stations and infrastructure improvements.

The Electricity Market Reform White Paper aims to attract more private finance into energy schemes as the country needs to build the equivalent of 20 new power stations and upgrade the national grid.

The document also includes plans to accelerate renewable energy plans with the target of meeting 15% of all power needs in the UK by 2020 from alternative sources.

Civil Engineering Contractors Association director of external affairs Alasdair Reisner said: “Measures which offer greater certainty for private sector investors can unlock large quantities of private sector investment in infrastructure, a crucial point considering the state of public finances.

“Importantly, the plan is also a welcome fillip for the construction industry, potentially providing jobs and boost to GDP.

“It’s also important to realise that this investment will be targeted in regions of the UK that have hitherto missed out from big projects.”

Secretary of State for Energy and Climate Change Chris Huhne said: “A new generation of power sources including renewables, new nuclear, and carbon capture and storage, along with new gas plants to provide flexibility and back-up capacity, will secure our electricity supply as well as bring new jobs and new expertise to the UK economy.”

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