Cheaper renewable electricity will require state intervention

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Increasing the amount of low-cost renewable energy available to British households will require state intervention, it has been claimed.

Speaking to the Times, energy secretary Ed Miliband said that the government needs to be more assertive if Britain is to achieve its target of slashing carbon emissions by 80 per cent by 2050.

"The market on its own is not going to ensure that we make the transition to low carbon," Mr Miliband told the news provider.

"It's not necessarily going to ensure the right diversity in our energy mix."

He added that the time of leaving the development of the energy sector to market forces was over and that a long-term framework was needed to ensure the successful overhaul of the National Grid in the coming years.

Vincent de Rivaz, chief executive of the UK subsidiary of EDF, told the Financial Times that a new generation of nuclear power stations would not be built unless the government provided financial support.

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