* Increase to 7.6 bln stg a year in real terms
* Investment to reduce dependence on gas
* Renewables to provide 30 pct of energy mix by 2020
LONDON, Nov 23 British government support for
low-carbon electricity generation will triple by 2020 after the
energy and finance ministries reached a deal to end months of
wrangling over costly reforms.
Under the agreed Levy Control Framework, spending on
renewable power generation will increase to 7.6 billion pounds a
year in real terms by 2020, from the current 2.35 billion
pounds, to reduce dependence on gas.
Divisions over spending plans between energy minister Ed
Davey and finance minister George Osborne have delayed key
agreements over energy policy at a time of painful austerity
measures introduced by the government.
The extra investment announced on Friday is intended to
boost renewables' share of the energy mix to 30 percent by 2020,
from 11 percent now.
The increase will also help to support new nuclear power and
the commercial use of untested carbon capture and storage
technologies, the government said.
"This is a durable agreement across the coalition
(government), against which companies can invest and support
jobs and our economic recovery," Davey said in a statement.
The energy minister said that the agreement paves the way
for the introduction of the Electricity Market Reform Bill next
week, with some reforms up and running by 2014.
"They will allow us to meet our legally binding carbon
reduction and renewable energy obligations," he said, "and will
bring on the investment required to keep the lights on and bills
affordable for consumers."