UK energy department BEIS has announced plans for a new energy bill next year as Secretary of State Greg Clark said the low cost of renewables meant the so-called trilemma was “coming to an end”.
In a broad speech on energy policy in London, Clark said the government will publish a energy policy white paper in the new year.
The Conservative MP declined to unveil specific proposals but he signalled BEIS will take a more market-led approach in an energy policy environment where “cheap power is green power”.
The government-backed market for Contracts for Difference had successfully delivered a rapid fall in the cost of offshore wind, he added.
The BEIS Secretary made no mention onshore wind, however, which is excluded from CfD auctions.
Details of the next auction due to kick off by May 2019 and offshore wind sector deal will be published in the coming weeks, said Clark.
“The most welcome part of the speech was the end of the trilemma and the unambiguous acknowledgement that renewables are cheap and will bring down consumers bills,” said Renewable Energy Association chief executive Nina Skorupska.
“We look forward to seeing the white paper and working with government to drive forward deployment of a smarter, cheaper and cleaner energy market,” she added.
RenewableUK executive director Emma Pinchbeck added: “The Secretary of State is right that we are in a new age of electricity, driven by low-cost renewables and innovative smart systems.”