ScottishPower has said it welcomes the recent proposals by the business and enterprise select committee.
The group has urged investment in generating energy capacity across the UK, adding a lack of funding could lead to a nationwide 'energy crunch'.
It estimated that a third of current electricity demand in the UK could be made redundant by 2020 and will need to be replaced, stating it is the job of the government to ensure the security of future supplies.
Nick Horler, chief executive of ScottishPower, said energy security is "one of the most important issues facing our country".
He stated: "With 15GW of existing generating capacity forecasted to close by 2015, the UK government recently estimated £100 billion worth of investment is required to bridge the energy gap."
ScottishPower recently announced a new social tariff for its most vulnerable customers.
The company, one of the leading energy firms in the UK, claimed it could cut bills by up to £211 per year.
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