UK energy department BEIS has published a package of proposals designed to support the decarbonisation of the power sector.
BEIS is seeking views on the potential for a Contract for Difference support for carbon capture usage and storage and how oil and gas infrastructure could be repurposed for the nascent technology.
The department has also launched a consultation on new financing models for nuclear power based on a government-backed regulated asset base approach.
In addition, the government has issued a review of the retail energy market, which aims to reduce the regulatory burden that companies must satisfy if they want to offer innovations that support decarbonisation.
Another BEIS review will look at how grid network codes ensure they keep pace with low-carbon innovations that will be deployed in the coming decades to achieve net-zero emissions reduction by 2050.
The department has also published a five-year review of the capacity market, a consultation on energy efficiency and a fuel poverty strategy review.
“A critically important step in reaching net zero emissions will be transforming the energy system so the economy can be powered by affordable, secure and clean energy,” said BEIS Secretary Greg Clark.
“We will need to change not just the way we use energy in our homes and businesses, but also how it is produced and delivered. We need to do this in a way that keeps the cost of energy as low as possible and ensures our energy security is never compromised.”