CROSS-BORDER ELECTRICITY AND GAS NETWORKS
(13043/07, 13045/07, 13048/07, 13049/07)
Letter from Malcolm Wicks MP, Minister
of State for Energy, Department for Business, Enterprise and Regulatory
Reform, to the Chairman
I am writing to revise some of the figures appearing
in the above Explanatory Memoranda and their associated Impact
Assessment. I apologise for having to do this—I am afraid
some confusion arose in their drafting owing to the number of
documents that needed to be produced in relation to the whole
package of EU energy liberalisation measures the Commission produced
in September.
A single Impact Assessment was submitted covering
both proposal 13045/07 and 13049/07. This gave a figure for the
total average annual benefits of the proposed revisions to both
the Regulation and the Directive as £95 million a year, starting
in 2010/11. Meanwhile an earlier calculation, a figure of £142
million a year, was given in the Explanatory Memoranda. The correct
figure has since been calculated as £132 million per annum.
A revised version of the Impact Assessment and
the two Explanatory Memoranda is attached, reflecting these figures
and a further small reduction of the total cost over 20 years
of the proposals from £439 million to £407 million.
There has also been a recalculation of the cost
of the proposals for electricity resulting in a small reduction
in the cost over 20 years from £475 million to £470
million. I attach a revised Impact Assessment for this too.
These changes do not affect the substance of
the conclusions of the analyses, as the predicted benefits significantly
outweigh the costs.
My apologies once again.
16 November 2007
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