The Bill includes proposals for a contracts for difference (cfd) regime to encourage investment in low carbon generation. These new arrangements will supplant the existing Renewables Obligation system.
Also involved are plans for a capacity market and an emissions performance standard for power plant.
A draft version of the legislation was published in May and drew considerable criticism.
Davey said: “The Energy Bill will attract investment to bring about a once in a generation transformation of our electricity market, moving from predominantly a fossil-fuel to a diverse low-carbon generation mix.
“This is the culmination of two years’ work in designing a new market-based approach that will deliver certainty for investors and fairness for consumers.
“The challenge is big. Over the next decade, the investment needed to upgrade our energy infrastructure is almost half of the infrastructure investment needed in the UK. This is far more than is taking place in transport, in telecoms, or in water, and dwarfs the investment that was needed for the Olympics or Crossrail.
“The Bill will support the construction of a diverse mix of renewables, new nuclear, gas and CCS, protecting our economy from energy shortfalls and significantly decarbonising our electricity supply by the 2030s as part of global efforts to tackle climate change” he insisted.