- Having promised to enact legacy reforms left over from the Martin administration, the New Englian Government has announced plans to create a national renewable energy company aimed at boosting the nation's efforts to reduce its dependence on imported natural gas for power generation. At a press conference at the cabinet offices in Lonmouth, Prime Minister Norah Turney noted that the creation of a state-owned company would enable the government to pinpoint investment which will benefit the public as a whole, thus removing its reliance on private sector firms to initiate renewable energy programmes. She noted that the decision had long been under contemplation for the government as the company's creation played an integral role in the party's recent electoral victory. "We have made a commitment to ensure this company is created to the benefit of the people of New Englia and it is our strongest intention to honour the said commitment," she told reporters. The Department of Finance and the Treasury notes that natural gas imports, specifically those for power generation, account for around 19% of the nation's energy imports, with the vast majority of said imports coming from Dorvik and soon-to-be Vascania and Kafuristan. Pointing to the continued strain said imports place on the nation's limited foreign exchange reserves, as much of the LNG purchase from these nations has been and will continue to be made in LOD, the Department notes that although the nation's reserve situation is set to improve in the coming decades, cutting out unnecessary expenditure via a reduction on the nation's dependence on imported fuel for electricity would free-up considerable foreign exchange reserves which could potentially be used to boost the nation's economic growth programmes. "It is our belief that by cutting costs in this area we can improve our foreign exchange situation in the medium to long term. A 19% increase in foreign exchange wiggle room could be very beneficial to our loan financing programmes, our economic growth agenda and could potentially be augmented to other areas which are strapped for foreign exchange," Finance Secretary Dr Allison O'Connor explained. Prime Minister Turney admitted that the lack of crucial investment is renewables would mean that this new company, to be known as the National Energy Corporation, would have to make massive leaps in order to catch up with the regional/global standard. "Lourenne has made centuries' worth of investment in renewable energy to the benefit of the nation as a whole. It is expected that once this company begins operations it will have to make massive leaps towards catching up with the regional/global standard," she said. The company, according to Trade and Economic Development Secretary Dr Carl Stuart-Lane, would primarily exist under the Department of Infrastructure and Transport with joint cooperation with the Department of International Trade and Economic Development owing to the fact that matters related to sustainable development fall under the latter's preview. According to Parliamentary Secretary of State for Energy and Industrial Strategy Mason O'Hanraghty as the company would maintain its statutory monopoly over New Englia's power generation and distribution market, the company will primarily be formed from the combined assets of the New Englian Electricity Commission (NEEC). Speaking to the massive leaps needed to be achieved by the company, O'Hanraghty stated that the New Englian Government had been in advanced discussions with numerous stakeholders including the IDSB on the development of a programme which would allow for privately-owned solar panels to "sell" electricity to the national grid via a national feed-in tariff in exchange for money. However, he notes that once the programme has been fully conceptualised, both the NEC and the government will inform the public.