GE Energy Welcomes UK Electricity Market Reform Plan

GE Energy, world’s leading suppliers of power generation and energy delivery technologies, has welcomed the UK Government’s publication of the Electricity Market Reform (EMR) proposals, which focus on modernising the UK’s energy system and driving low carbon technology investments. The proposal will help cut the UK greenhouse gas emissions by 80% by 2050.

According to GE, by providing long-term goals and clear policy direction, the UK will create conditions that support technology investment by manufacturers and utilities.

GE Energy recognises the opportunity for the UK to become a global leader in the low carbon economy. This would require standards and incentives that promote the deployment of clean energy technologies such as offshore wind, carbon capture and storage, and smart grid, addressing both supply side and demand side efficiency opportunities.

“The Electricity Market Reform gives the UK a tremendous opportunity to build a world leading supply chain in low carbon technologies. The low carbon technologies that can support the transition to a decarbonised market are available today however ambitious reform is needed to guarantee their timely deployment. The UK has often led European thinking in electricity market design, from privatisation to liberalisation, and the current reform process will be keenly observed in other Member States,” says Magued Eldaief, managing director of GE Energy UK.

GE Energy has long been committed to the UK and has invested over £10 billion into the UK-based activities. Recently, the company reaffirmed this commitment by announcing a £100 million investment into the development of offshore wind turbine manufacturing facilities and locating design, application and service engineering resources in the UK.

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