The Association for Consultancy and Engineering has welcomed the emphasis of the Queen's Speech on the importance of electricity market reform and the launch of the Green Investment Bank as part of the government's continued focus on restoring growth to the UK economy.

ACE chief executive, Nelson Ogunshakin OBE, said: "The UK is facing a significant shortfall in energy investment as new capacity is required to sustainably meet consumer and business needs. The delivery of an Energy Bill that will establish the Government's electricity market reform should help to deliver some certainty for investors and we are keen to work with government to ensure it achieves that aim.

"Industry also welcomes the inclusion of the Green Investment Bank in the Enterprise and Regulatory Reform Bill. Infrastructure is the key driver of growth as the government makes bringing the UK out of recession a key priority. The Green Investment Bank can play an important part in achieving that alongside the other measures needed to bringing key projects through."