The head of the UK unit of German utility Eon, Paul Golby said utilities will have to spend some £100bn by 2020 on wind farms and new nuclear plants to reduce greenhouse gas emissions and replace ageing facilities, in line with the EU’s policy on renewable energy.

He said 70,000 MW of new generating capacities will have to be developed particularly as the UK has committed to 35% of its electricity being generated from renewable sources.