On Friday, UK's major opposition, the Conservative Party launched energy policy plans that are inclusive of the reform of present support mechanisms so they would act as floor price for carbon and also offer support to the development of low-carbon electricity generation, like nuclear power.

The Conservatives, who are reportedly leading in the opinion polls right ahead of the general election, revealed that they would work towards turning the present Climate Change Levy into a rebate-able carbon levy.

The revamped levy would be payable on the carbon content of electricity when it is generated, in sharp contrast with the current system wherein the same is charged during the supply of power to consumers. This would significantly act as a floor price for carbon in the energy industry.

The development is being viewed as an important one for energy firms looking to invest over a billion Pounds in new nuclear power stations, in order to replace the nation's aging range of reactors and coal plants which are on the verge of retirement.

"Today, we are setting out a Conservative program for the long-overdue reform of British energy policy--together with the actions we will take to mobilize the investment required to enact those reforms and our strategy for minimizing the cost to consumers", said Conservative Party leader David.