The Royal Assent is when the Queen formally agrees to make the bill into an Act of Parliament after having completed all the parliamentary stages in both Houses.
Today ended a 3-year process which began with a consultation on the proposed changes. The Bill is expected to reshape the UK’s electricity market and attract £110 billion of investment through the Electricity Market Reform (EMR) by 2020.It also enables the Government to set a 2030 target for decarbonisation for the power sector and help deploy the projects needed to meet the target of generating 15% of energy from renewables by 2020.
Maria McCaffery, Chief Executive of RenewableUK said: “This has been a long and sometimes arduous process for everyone involved but we recognize that the Energy Bill has now become legislation and the framework for development beyond 2017 is known.
“There is still much work to be done between government and industry to ensure that obstacles are removed and much needed clean and domestic sources of energy can come forward.”