U.K. Energy Secretary Ed Davey promised to give industry more clarity about power market reforms due next month, seeking to allay the concerns of renewable and nuclear power developers that ministers are bogged down in analysis of the problem. Davey also suggested he’ll set a target for cutting carbon emissions in the power industry. That measure has been sought by companies from wind turbine maker Vestas Wind Systems A/S (VWS) and nuclear reactor manufacturer Areva SA (AREVA), as well as his department’s adviser, the Committee on Climate Change.

“We have listened to investors and today have set out further measures to provide the certainty they need,” Davey said in a speech to business leaders today in London. “A strong case has been made by many investors in energy infrastructure for a decarbonisation target range for the power sector. Such a range would make clear our continued commitment to our climate goals.” The law, published in draft form on May 22, aims to restructure the power market and spur 110 billion pounds ($177 billion) of investment needed for aging power stations and upgrading the grid by 2020. Davey said lawmakers will see his final proposals next month and vote on them by Christmas.

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Asked whether he would agree before year end on a “strike price” for the power produced by the Hinkley Point station when it’s built, Davey said the “comfort” will take the form of “enabling contracts” that will include a strike price.

Davey said he has “taken on board” investor concerns that they want a “robust” counterparty to guarantee the long term power prices secured in the contracts for difference. He said the counterparty will probably be a company owned by government.

http://www.businessweek.com/news/2012-10-18/u-dot-k-dot-energy-law-will-include-measures-spurring-nuclear-power