Wednesday 9 March 2011

Keep investors in the loop on EMR, DECC told

DECC must share the findings of its EMR research with the energy industry as soon as possible to avoid making mistakes in policy that could potentially harm businesses, according to the Association of Electricity Producers.

David Porter, Chief Executive of AEP, today advised DECC to keep investors in the loop on the results of the EMR consultation, which closes tomorrow.

The proposals will have a huge effect on companies' business plans. Mr Porter said: "The Government's proposals, which are designed to attract new investment, affect companies' business plans and the huge investments that they have already made in this vital industry."

Mr Porter added that keeping investors informed would avoid a knee-jerk reaction in government policy: "When DECC has digested the huge number of responses to the consultation, it would be good to hear the direction of the Government's thinking, because investors cannot wait forever to draw up their plans. But, detailed changes will require input from industry to avoid quick fixes with unintended consequences."

A spokesperson for DECC told ELN, "The EMR is one of the most important projects the department has. We'll publish a white paper in Spring, after the consultation closes on 10 March, tomorrow. We haven't got a date for that yet. It's something that needs doing, but needs doing right."