The proposals (in plain English) are four fold:
- First, there will be a new and higher minimum price for carbon emissions from power generation (i.e. a 'carbon floor').
- Second, those who invest in nuclear plants, wind farms and other forms of low-carbon energy will be guaranteed a price that yields them a profit.
- Third, there will be additional payments to those who create reserve capacity in the energy system, to cope with surges in demand or unexpected cuts in supply.
- Finally, there will be prohibitions on the construction of dirty power stations (notably coal).
These proposals have been welcomed by the French nuclear firm EDF, who I believe have been lobbying for a 'carbon floor' for some time. EDF have plans together with Centrica to build four new nuclear power plants in the UK. Hopefully Horizon will also react positively to these changes bringing Wylfa B yet one step closer.