Energy Secretary Ed Davey believes the spending level for low-carbon power subsidies will allow the UK to meet goals to supply 30% of electricity from renewables by 2020.
Davey also believes that the Bill will fund other low-carbon technology including nuclear and fossil fuel power plants where emissions are captured and stored.
– Energy Secretary Ed Davey
There's a real challenge in this decade because we're going to see lots of power stations coming to the end of their life.
Coal power stations are closing down and nuclear power stations are closing down, so we've got to have a lot more new generation capacity coming on.
Nearly 20% needs to be replaced so we need to make sure the electricity market provides the incentives for people to invest.