The 2012 Queen’s Speech announced that "My Government will propose reform of the electricity market to deliver secure, clean and affordable electricity and ensure prices are fair”. This will be done through the latest in a line of Energy Bills, published in draft for pre-legislative scrutiny on 22 May 2012.

The CRC Energy Efficiency Scheme is a mandatory carbon emissions reporting and trading scheme for large public and private sector organisations. It is currently under review and if it cannot be simplified to produce “very significant administrative savings” for businesses, then it will be replaced by “an alternative environmental tax” on which the Government will consult in Autumn 2012.