"Chancellor backs gas to fire up Britain": FT.

FT: Chancellor George Osborne is set to approve up to 30 gas-fired power stations, backed by possible tax breaks and a new regulatory regime for shale gas exploration. Producing 26 gigawatts, they will replace old coal, nuclear and gas plants. “The strategy will say that “in 2030, we could need more overall gas capacity than we have today”. Under one scenario – if Britain’s carbon reduction plan in the mid 2020s is reined back – there could be 37GW of new gas plants in the UK by 2030, accounting for half of the UK’s generation capacity.” HMT consult on tax breaks for shale gas exploration and set up an Office for Unconventional Gas to simplify regulation and arbitrate in disputes between the industry and opponents of “fracking”.