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In developing the Contracts for Difference payment model set out in the draft Energy Bill and draft Operational Framework in May 2012, we have engaged with a wide range of stakeholders to assess any risks associated with the proposed model. We have also considered external legal advice.
While I still believe that the proposed model is workable, I recognise the concerns that have been raised by industry. For that reason, I have been assessing the viability of alternative models, including those based on a single counter-party.
I await the outcome of the Energy and Climate Change Committee's pre-legislative scrutiny before making a decision on whether to make any changes in the Bill.