The call for action comes after energy regulator Ofgem published a report which predicts that the amount of spare capacity could fall from 14% to only 4% in three years time.

Commenting on the report Prospect General Secretary Designate Mike Clancy said:

"This highlights how imperative it is for the government to act now and introduce electricity market reform that ensures the programme of new nuclear build and other vital energy infrastructure projects, such as carbon capture and storage, are attractive enough to secure the long-term investment they require.

"Without it we risk losing an opportunity to meet the twin goals of decarbonisation and building a new economy that provides good quality jobs and growth for the UK.

"Yet the draft Energy Bill still leaves a lot of questions unanswered over funding and pricing arrangements that impact on the willingness of companies to invest. These need to be addressed as a matter of urgency."

On behalf of 21,000 members working in nuclear decommissioning and energy supply, Clancy added that the government also needed to remember that while the right financial framework right is crucial, investment in staff and skills will be equally important.